With the downward turn in the housing market, many homeowners are opting to stay put for a few more years.  This isn’t a bad option, as housing values will continue to rise, providing homeowners with additional equity in their house.

But if we’re all settling in for the long haul, why not help edge our equity along?

We never bothered to put in home improvements until a year before we sold our old house.  It was such a waste to make the house more attractive for another family to own it, without reaping the benefits ourselves.  This time, we’re doing things different.

While the country waits for the next upturn in housing sales, build your equity and make a cozy nest at the same time.  Put some fresh paint on the walls, put down new carpeting, re-finish your hardwood floors.  Major projects build major equity too like bathroom and kitchen remodeling, new windows, new siding, and new roofs.

Don’t think you can swing the finances?  Consider taking out a home equity loan, especially if you’ll be staying a while.  Most are tax-deductible and have lower interest rates than credit cards.

Now sit back and enjoy your “new” old house!