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Avoid the Home Improvement Money Pit.

The process of improving your home can be very exciting because it allows you to make your home unique to your tastes. But if you don't do things correctly, you could be out a large chunk of money and hinder the ability to sell your home at a later date.

Here are some simple things to avoid so you don't fall into the home improvement money pit:

Plants have needs too. It's easy to get inspired while at a home and garden center. The plants are beautiful, and you're imagining how great they will look in your yard. Problem is, you get your plants home, and you realize they will grow to be too large for the provided space, or they won't have adequate sun to survive. Before you shop, be sure to make a list of the sun and shade patterns in your yard, that way you're aware of what kind of plant will survive the conditions. Also, be sure to take the plant's potential size into consideration.

Grab a can, dip your brush, you're ready to go, right? Wrong! A lot of people skip the most important step in painting their home: the prep work. It's important to make sure you clean, patch, and sand your walls before painting. Not doing these things will give you sloppy results leaving you disappointed. When it comes to selecting a color for your space, research which colors will look best and never go cheap on paint. Paying a little more for high quality stuff will give you a finish you will enjoy for years.

Get the basics covered before going green. Having an environmentally friendly home is an excellent idea. However, make sure that the transition is done the right way so you do not lose money in the process. Many people make the mistake of getting wind turbines, solar panels, and other green materials without making sure their home is properly insulated first. The right amount of insulation can dramatically lower output of heating and air energy, therefore lowering your monthly bill.

Be sure to check out Fox 59's Bottom Line segment with Forum Credit Union's very own Andy Mattingly for more information about home improvements. Click here.


Posted: 4/5/2013 with 1 comments

Categories: Homeownership, Spending

Abby Olson
We've been using our "Common Cents" savings account to save for finishing our basement. We're in the process of getting estimates right now, but won't move forward until we can pay in cash! We are excited, but not excited enough to go in to debt to improve our home.
5/6/2013 11:10:47 AM

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