A house is like a person. Every home has it's own unique personality just like a person. Every home is located in a particular neighborhood, just like every person is from a particular family. Every home has it's strong points and weak points, it's own personal "statement", it's own character flaws.

Many people ask me what is the number one thing you can do to a home to increase value. The answer is always the same - maintain it. Just like the doctor would tell you the number one thing to extend your own life is to maintain your health, your home should be kept in optimum health as well. When you maintain your health, you are opening yourself up to a longer life, but also one which is much more fruitful and full of possibilities. Your home is the same way. The concept is quite simple really, but often, just like with people, the advice is not headed. Just like you may be cutting your own life short by not maintaining your health, you may be cutting your own net worth by not maintaining your home.

Net worth is a kind of obscure concept, as many people have heard the term but don't actually know how to apply it to themselves. Every one has a net worth but almost no one knows what theirs is. Put quite simply, it is what you own minus what you owe. Nothing complicated there. Most people think that building their net worth is difficult. That's not always the case. My job as an equity coach has taught me that sometimes it is very easy.

People approach net worth building in many different ways. There are those who work overtime or take a second job in order to get enough money to be able to increase their savings. There are those who go back to school to get a higher degree in attempt to gain a promotion at work. Also there are people who invest their savings in the stock market, buy CD's, or invest in oil certificates. Then there are those who make improvements to their home to raise the value, thereby increasing their equity, resulting in an increase in their net worth. Remember - what you own minus what you owe equals net worth.

The problem is that many people really don't know what to do to accomplish this easily. Even those who think they know, may not know exactly. That brings me back to my first point. Every home is different, every neighborhood is different, every recommendation is different. There are many issues that go into calculating exactly what to do and in what order to do it. After all, the object is to increase equity, not make you poorer.

Yet, so many times, almost daily, in my career I have seen just that. It is my feeling that most homeowners, try as they may, do not understand exactly what to do, in what order, in what capacity or intensity, and the end result. That is why I get such a feeling of satisfaction by helping them to know, answering their questions, and showing them the way.

Building equity in your home is probably the easiest way to grow your net worth and it is sooo underutilized as a wealth building tool. Maybe people think it's difficult, but it couldn't be easier once you understand it and know exactly what to do.

There are those who tell you that remodeling your kitchen and bath are the way to go. That's only a partial truth. There are many companies who in an attempt to sell their product steer you in the wrong direction. There are those who tell you to finish your basement, add an addition, or in many other ways to increase your home's square footage.  Believe me, misconceptions abound!

Let's look at this from a different angle. Let's say you find these particular eye glasses! They are beautiful, you try them on and they look fantastic! You're so excited that you tell all your friends about them. They agree the glasses really do look nice on you they decide to get some for themselves! You know what though, those glasses don't look as good on most of your friends. As a matter of fact, on some of your friends, they look terrible. 

Let's look from another angle. You recently went on vacation. It was the best vacation ever! You went whale watching off the coast of Nantucket! It was great! You sat on the boat all day staring at the water waiting for the slightest glimpse of a whale swimming in the ocean! Sometimes it took hours for your first sighting! How thrilling that was! REALLY? There are a lot of people who think you're crazy! Sitting on a boat (or swaying on a boat) for countless hours waiting for what??? In sixty five degree weather on a cloudy day???? Most people would say, "I don't think so!". But you thought it was great, so for you it was.

Back to my point in the beginning. A house is like a person. What's good for one is not good for another. That's probably the biggest misconception. Oh yeah, just do this and this and voilà, it's all good. As an equity coach, I can tell you - it's just not like that. Not at all. Every house has it's own characteristics, it's own neighborhood, it's own personality. What works on one does not work on all.

Do yourself a favor and consult an expert. It doesn't cost much and believe me it will save you  FAR more in time, effort, expense and frustration.