There are many ways to put money into your home, and just as many opinions as to which is the best.
- Stashing cash under the mattress or hiding it in the walls may be a safe place but not a very good investment, except when other investments are loosing value.
- Paying extra on the mortgage each month is generally considered a good idea as it reduces the amount of interest paid and shortens the term of the loan.
- Regularly maintaining the property is always recommended to avoid more expensive repairs later.
- Making updates and improvements to kitchens and baths means living in more enjoyable surroundings and improves the marketability when the time comes to sell.
Here’s another way to put money into your home. The image of a foundation cement block wall offers a clue and a novel idea for monitoring a foundation for settling. Taking a photo and comparing it over time to the future condition will help gauge any changes and whether foundation repair is in order.
In the absence of a measuring tape one or more coins can be used and may even be a more accurate way to assess the condition. In this picture the crack is the width of about 4 dimes. Great idea, right?
Cautionary note…use pennies instead of higher value coins as under estimating the number of coins needed to plug the gap may result in the coins slipping inside and thereby unintentionally “putting money into your home” that may never be seen again. Sort of like playing the Vegas slots.
If you don’t trust your judgment or like the odds then head back into the garage and locate a tape measure.