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Your Home and Your New Year’s Resolutions

This is the time of year that many make resolutions. Diet and fitness goals are usually high on the list. Financial resolutions come next, and then we resolve to do more for our families. I read someplace that the sequence and details vary from person to person, but that most resolutions fall into these three buckets.

Today I want to introduce a new concept to consider as part of your resolution setting. Taking care of your home. For many, their home is their single largest financial investment. Given this, taking care of your investment makes perfect sense. Building equity is a path to financial stability.

Our homes are also where we raise our family. Think of any fond memory, and that memory involves people and places. Some of these places may be from a vacation or adventure you went on, but many others involve home. Fond memories of home, for you and the family, will surface long into the future, so making your home an awesome place also makes sense.

Every home has its own needs, and every homeowner has their wants. Organize both lists and use them for motivation. Few get really excited about basic maintenance, but basic maintenance is important. Simple things like caulking, left undone, can lead to significant damage from water intrusion. So, once you complete your basic maintenance tasks, you can take on a home upgrade that excites you. A new backsplash can transform your kitchen, and a paver patio will be a great place for family happenings, and fond memories.

If something stands in your way because you simply don’t know how to tackle it, or you simply can’t bring yourself to tackle it, then consider hiring somebody. Move that roadblock so you can move forward.

My last observation, to tie all this together, is to consider what you can do from your ‘needs’ and ‘wants’ list as a family. I developed skills, and interest, in being handy as a youth while working with my dad around our home, and some properties he owned. I didn’t eagerly embrace weekend lawn cutting at first, but I eventually had a business cutting lawns, painting and doing simple home repairs. Family chores build character, and eventually became my vocation.

In summary, focusing on your home is financially sound practice. It’ll gives you a bit of exercise and sets the groundwork for fond future memories. Giving children ownership of tasks on the list that are appropriate for their age will help teach them responsibility and build character and pride in a job well done.

And you thought it was just a ‘To Do’ list.

mike