Make Sure Your Home is an Asset not a Liability

Make Sure Your Home is an Asset not a Liability

Your house is the largest investment you will ever make. It is the centre point for your life, and a huge asset in which you hold vast portions of your wealth.

The most important asset that you can have in life can be your home, it holds onto financial value whilst at the same time it provides you and your family with a place to live.

There is a fine line between something being an asset and a liability however, and this is when something starts going wrong.

It is hard to feel like your new home is an asset if shortly after buying it you notice that some cracks have started to form, and then you have an expensive repair man come in and explain that you are up for a fortune in repair costs!

Typically speaking an asset is something that increases in value, and provides for the future. However a liability is something that you own which will continue to incur costs into the future.

Having a thorough and professional building inspection of any home you are about to purchase is the first step in making sure that this potential disaster is avoided.

A building inspector will be able to look at all the nooks and crannies of your potential home and let you know of anything that needs to be repaired immediately, as well as giving you a good idea of what is likely to need repairing in the future whilst providing a rough time frame.

The last thing you want to do is fall in love with a home, skip the inspection and then find out that you have a huge array of structural faults that weren’t visible to you at the time lurking in the future!

By |2015-10-21T11:53:10+00:00August 17th, 2015|Building|Comments Off on Make Sure Your Home is an Asset not a Liability