SWEAT EQUITY

SWEAT EQUITY: the value added to real estate by owners who make improvements by their own toil.

If you already own a home I'm sure you are familiar with doing a few projects around the house. You know when you are doing these that ultimately you are increasing the value of your home. The more labor applied to the home, and the greater the increase in value, the more sweat equity that has been used. Some home improvement projects have the potential to create more value than do other projects. Wallpaper, floor coverings and paint can dress up an old residence and make it more appealing to buyers. Improvements to bathrooms and kitchens are the most valuable sources of additional value.

There are many helpful websites that you can go to and utitilize when planning your projects. Our favorite website is www.homegain.com
On there you can read about how to do projects on your own and the costs and ramifications on each individual one. It has videos that you can watch and they talk you through different projects. Highly recommended!

When you are working on bigger projects make sure to pull the necessary permits associated with the job; you could run into big problems later if you fail to do so.

Another helpful website (mostly for kitchen remodels) is www.kitchendesign.HGTV.com
On this website you can figure out a kitchen budget and play around with different color palettes and organization strategies. Remodeling a kitchen can be one of the most expensive remodels for your house but will also add the most bang for when you go to resell. Remember, most women make the final decisions and they love kitchens!

Sweat equity can be used in all types of homes. New construction homes still need a lot of work after you move in. Most of them need landscaping, gutters, paint, a deck, and a fence if needed. Old homes will never let you down as most of them could use major updating. Whenever you decide to tackle a project, make sure you do your research and have a budget set aside or you will be surprised how quick the expenses add up.