Your home is most likely your largest appreciating asset. In the past 3 years alone, you have gained somewhere in the ballpark of 45% in the value of your home. Those levels of returns are unheard of! However, if you have not invested into your home, both for maintenance and updating, you may not be able to cash in on all of that equity growth.
What we are noticing from buyer behavior is that with the increase in both home prices and interest rates, there is little money left to fix up a house. Buyers are drawn to homes that are move in ready. This means the paint, HVAC system, flooring, water heater and roof aren't all at the end of their life expectancy.
Even if you are not planning on selling your home in the near future, regular maintenance and updating is key to increasing your net worth and your overall satisfaction in your own home. And one day, when you do decide to make a move, your home is almost market ready! Speaking from experience, when it is time to sell, you do not want a large to do list and to spend a bunch of money getting your home ready to attract a new buyer.