In this day where every homeowner in the country have saddened about some big loss on the equity of their abode, it just seemed wise to either keep it or rent it until the housing market goes back to normal. When? No one can say. But the situation is not all that bad if you where to stay in it, of course, as long as you can keep up with paying the higher mortgage interest, and just make it a future investment. Price may not be as it used to be when you first bought it, but 5 to 10 years from now, price should pick-up and you gain substantial amount of equity out of it. Weather you decide to keep it to live on or get it rented, one thing is sure. You want to keep your place as nice looking as it should. If you are staying, this of course if you have some money to spare, you might want to consider home remodeling, re-decorating or re-arranging for a different look and feel. You can do this on your own or with the help of your family member and friends. Maybe repainting the living room and re-arranging the furniture. Taking the clutter out and make it homier organized kind of house. Re-decorating your house not only will give you this “oh I like it” feeling, but it also gives you the sense of pride and relief that you might say to yourself, yeah, I’m glad I did not sell it. You maybe even say, well, it’s not all that bad after all. Your friends might even like it and have you do the re-decorating of their house for a fee! That’s just a thought.However, if you really do need some cash to help you pay the increased payment in mortgage, in lieu of selling (first of all you cannot sell as the housing inventory is too high up), consider get it rented. But how can you compete with what’s available in the rental market in your neighborhood with the same layout, square footage, number of bedrooms and bath, etc? Mind you, a lot of them if they look old, rundown or even just the ordinary bare looking with no accent whatsoever take a lot longer to get a rented. Ones again, think about home remodeling or home improvement. Home remodeling does not need to be very pricey. You just need to have a clear picture of what you want done, check out the prices of materials you need, how many days will take and so on. If you are thinking of doing it yourself and you’re crunching with the time, then take a few days leave if you have some. But for those who doesn’t and cannot for whatever reason, you might want to consider hiring a home remodeling or home improvement contractor.Hiring a home improvement contractor does not necessarily mean getting someone just down the street because “maybe” you will save some money. The average carpenter Jose down the street can probably do the job and he’s cheaper. I don’t necessarily agree. Regardless if you’re hiring Jose down the street, or hiring a licensed contractor, there should be a few things you need to consider before deciding who to hire to get the job done and do it right with a lot less money. I say, look around, local yellow pages or Google it and look for home remodeling resource network. Most of these companies can connect you to the right candidate in your area with the following credentials: 1) they are licensed and bonded; 2) they have liability and workers compensation insurance, and 3) highest approval rating from Better Business Bureau (BBB). Most of the time, they would send you up to 3 pre-screened contractors and on top of that, this service along with the job quote is FREE for you. They will not charge you a dime as they deal directly with the contractor for whatever fee they charge. By doing this, the expense is within your affordability, the job is done to your instruction and specification and more importantly, in a timely manner.In closing, I say whatever you decide, keep in mind some, if not all the pointers I shared with you. You ultimately decide what’s best for you. Just a hope that it is one wise and intelligent decision so it makes a long lasting productive effect for the future!
####
This article is an original copyright of Claire Schaper, online media specialist for All Around Home Remodeling. For inquiry, e-mail Nir Arie at lionsmarketing@gmail.com or e-mail at 818-745-5168. You can also visit http://www.allaroundhomeremodeling.com.
