Fixing up your house or apartment? Lean on a credit
18 September 2024
A house or apartment will always require several investments to keep them in optimal conditions and with a pleasant image, which makes us feel the same joy of living in it.
Buying a house or apartment represents a personal and family goal that fills us with satisfaction, because it is well known that, to achieve this goal, it is necessary to make a proper choice of the property, its location, a space according to the size of our family, a quiet, safe and pleasant environment, its proximity to schools, workplaces, stores, entertainment spaces and, above all, to make a strong investment.
This last point is fundamental because the prices of the properties that meet our expectations may require us to apply for a loan to complete our budget.
On the other hand, once the goal of owning your own home has been achieved, you still have to face multiple expenses for its maintenance.
In fact, a house or apartment will always require various investments to keep them in optimal conditions and with a pleasant image, which will always make us feel the same joy of living in it.
Thus, from time to time it will be necessary to paint it, repair water or gas leaks, fix doors and windows that do not close properly, eliminate leaks in the walls or roof, solve problems in the electrical installations, change the floor, modify the patio or garden, and so on.
Likewise, carrying out this maintenance work helps the home to preserve and even increase its appreciation (the increase in the value of a property over time) in the event of a possible future sale or rental. According to the Instituto del Fondo Nacional de la Vivienda para los Trabajadores (Infonavit), among the factors that influence the appreciation of a property is maintenance. In addition, the lack of maintenance can cause repairs to be more costly than if they had been attended to when they were minor.
Also, according to data from the Sociedad Hipotecaria Federal (SHF), a property with little maintenance has a minimal growth in its equity, between 2 and 3% per year, which makes it less attractive to potential buyers. On the other hand, renovating a house or apartment can mean a 10% increase in its commercial value. Likewise, according to real estate experts, keeping a house or apartment in good condition will contribute to its appreciation in value. For example, if 10% of a property's value is invested in maintenance, this can increase up to 40%.
For all of the above, it is clear that investing in the maintenance of our house or apartment is essential to have a pleasant and cozy space where we are happy to arrive after a day of hard work and we can spend moments of great happiness with our family, but not only that: a proper maintenance of the property will give us the possibility of increasing its value in the future, if the occasion arises, to sell it at a price that is beneficial in case it is required and help us to improve.
Whether your property requires minor repairs to keep it attractive and comfortable or needs major maintenance, Credmex supports you with personal loans at your fingertips with a single click on your cell phone. Download our app and learn about all the benefits we have for you and the wellbeing of your loved ones.