The Pride Of Home Ownership

Since the early 20th century, the concept of the American dream was introduced into society in the United States, whereby each and every family was encouraged to purchase and own their own home. That dream still continues with each succeeding generation.

When starter homes were first introduced at the era beginning the American dream, they were rather simple structures. Oftentimes, they were two bedroom bungalows with a full basement and one single bathroom. Parents raised families from birth to the empty nest period, and still continued to reside in these homes until their retirement.

Today, it's not uncommon for the average tenure for residency to be a mere five to seven years, perhaps even less. Social factors enter into the equation here as times have changed since the early 1900s. Back then, when a person graduated from high school, they sought employment with a local company and virtually stayed on board there until retirement. Like wise, most stayed married to one spouse all their lives. Today, many people are contract employees who work with a company for a few months. If hired full time, they may only stay two to five years before getting a new job and relocating. In addition the high divorce rates today also contribute to home turnovers.

No matter how long or shortlived in their homes today, people express themselves about who they are through their homes. This can be everything from the design and location of the structure itself, to the individualization of the rooms inside the home through decoration. Home exteriors make a statement through curb appeal as passersby look at the landscaping and artistic designs put forth by the homeowner.

With so many fine products on the market today relating to home hardware, it has become an adventure to shop for home decoration items, as well as everyday hardware that expresses uniqueness and personality about the home and its owners. A well maintained and designed home not only adds beauty and charm to a home, but also adds value and often even convenience with the many items available today.

If home occupants only plan to be in the home for a couple of years, is it worth the expense and investment of doing major upgrades to the home? The key here is the keyword "major" upgrade. Usually inexpensive upgrades such as painting and adding flowers to the landscaping add to the curb appeal and reward the homeowner with neighborhood image and faster offers, thereby reducing the number of days the home is on the market. For expensive upgrades such as finishing unfinished basements, one can be lucky to recover 50 - 60% of the investment costs, especially if the house is in a declining neighborhood.

New kitchens and baths can be a good investment if the existing kitchen and bath are just plain ugly. They can cost roughly $3000 to upgrade, so recovering these costs depend on the house, the neighborhood, and the average comparable sales of similar homes within the proximity of the home for sale. In most cases, a new kitchen and bath is a recoverable expense.

Recovering the expense of a new roof is taken on a case by case basis. If the roof leaks, replace it now. Every time it rains, structural damage occurs that errodes the value of the home. If the roof doesn't leak yet, but shows its age when observing it from the ground, replacing it is probably worth the expense as many would be buyers may decide to keep looking if the roof concerns them. If the roof looks good, then replacing it probably won't be a recoverable cost if the roof has some years left on it.

All in all, a well maintained home is a safe home that will continue to reward the homeowner with a return on investment. Improperly taken care of, the home will deteriorate and decrease its potential value. In the extreme case, the structure can become so deteriorated that it would be beyond repair, making the best option to level the home and build a new structure on the site.