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Tips for Building or Remodeling Your Home – How to Save and Where to Spend

Whether you are building a new home or remodeling, there are points to consider when establishing your financial investment and achieving your desired outcome.
Plan with the Future in Mind Determine your priorities and goals.Decide where you want to splurge and where you can save.Choose what is important to you and your lifestyle.Consider resale value. Next, do your homework so you can invest wisely. Look for a reputable and licensed builder who has experience constructing the style of home you want in the location you want, especially if it is near the coast. Check references, view previous projects and interview more than one builder. Also, any trade partners should be experienced, licensed, and insured. Respected tradespeople are well worth the investment.

Energy-Savers:
Insulation – The higher the R-value, the greater the insulating power. R-value is the metric used to measure the capacity of an insulating material to resist heat flow. Good – fiberglass batts; Better – cellulose insu…

Renter's Net Worth 36 Times Less than Homeowner's

Homeownership remains a great way to grow wealth in America. This may not seem possible, especially with the crash of the housing market, but The Federal Reserve states that homeowner's have a much higher net worth than renters. Again, this may seem shocking when reflecting on the housing market of the past decade.

The Federal Reserve reports that the average renter has a net worth of $5,400, while the average homeowner is valued at $194,500. Crazy difference, right? This means that a homeowner's net worth is over 36 times greater than that of a renter! In addition, the average American family stands for a net worth of $81,200, while $49,856 of the whole represents home equity. That's 61.4% of the average American family's net worth - a generous chunk.

Long story short, investing in real estate is still an opportune way for individuals and families to become more financially sound.

Interested in exploring your options further and increasing your net worth? Contact Connecticut Valley Homes, custom modular home builder, to find out more information.


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