Home Fixes

I’m Miriam Neff, and I’m Valerie Neff Hogan, with Wise Women Managing Money.

M Most families’ greatest investment is their home.  Let’s get perspective.  It’s not your investment, it’s Gods on loan for you to use. I Corinthians, The earth is the Lord’s and ALL it contains.  Historically, homes were an appreciating asset.  Not necessarily. You may be in that place where you are considering, do I maintain, or move.

Valerie give us some guidelines.

V Given my present and predictable income, can I afford to stay here?  Mortgage, taxes, upkeep, and utilities.  General guideline, 30% of your income.  If the numbers don’t work, prepare to sell.  Start with what’s necessary and a good salable investment.  Total kitchen redo?  Probably not.  Fresh neutral paint?   Good.

M Facing reality is hard.  But sound financial footing is comforting.