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You can Add Value to Your Home
Dollar cost averaging is usually applied to stock investment strategy, but it can be used in real estate as effectively. The idea in short simple terms. You buy 10 for $10, the value drops to $5 you buy 10 more at $5, the 20 don’t have to get back to $10 before you are even. In fact when it does get back to $10 you are ahead.
It was reported in the Arizona Daily Star last week that the average loss of home owner equity in Tucson in 2008 was 11.3%
Using a dollar cost averaging approach to home ownership would mean taking this opportunity when building and home improvement materials are selling for a lot less than they were even a year ago to purchase supplies and make upgrades to your home.
- A new coat of paint in some rooms can really freshen up the look of a home.
- Add some landscape pavers or a walk way
- Add a water feature or some fruit trees to your yard.
- Put solar screens on those windows where the summer sun beats in your home.
- Update the bathroom lights and fixtures
- Install more efficient water saver toilets
- A new kitchen sink and faucet can make a big difference.
- Add a rain water harvesting system to your home to conserve and provide water for your landscaping
- Put in high efficient lighting
While the cost of supplies are even labor are down it is a good time to make improvements to your home which raise the overall value of your home. Making a few small improvements and maintaining your home in good working order will pay dividends when you are ready to sell your home. Even if you don’t plan to sell, you have a better home in which to live as long as you want.
