{"id":22304,"date":"2023-06-07T12:15:38","date_gmt":"2023-06-07T12:15:38","guid":{"rendered":"https:\/\/www.anthonydidonato.net\/wordpress\/?p=22304"},"modified":"2023-06-07T12:15:42","modified_gmt":"2023-06-07T12:15:42","slug":"strategies-for-maintaining-a-home-as-an-asset","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/strategies-for-maintaining-a-home-as-an-asset\/","title":{"rendered":"Strategies for Maintaining a Home as an Asset"},"content":{"rendered":"\n<p>High-profile bank failures offer lessons worth sharing with your clients and customers.<\/p>\n\n\n\n<p><strong>Key takeaways:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>The Federal Deposit Insurance Corporation takeover of Silicon Valley and First Republic banks is a reminder of how critical it is to strategically manage assets\u2014including a home.&nbsp;<\/strong><\/li>\n\n\n\n<li><strong>Real estate professionals play a key role in educating homeowners about how to manage their home as an asset.&nbsp;<\/strong><\/li>\n\n\n\n<li><strong>This article offers eight tips to share with homeowners, from keeping up with regular maintenance to communicating with their lender to documenting all records related to their home.<\/strong><\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>The high-profile failures of Silicon Valley Bank and First Republic Bank are an object lesson on the importance of managing one\u2019s assets. Companies, entrepreneurs and venture capitalists, who had more than $170 billion stored at SVB, were left scrambling to access their money for 72 hours until the Federal Deposit Insurance Corporation stepped in to ensure that depositors would be made whole.<\/p>\n\n\n\n<p>Bloomberg reported that 97% of SVB\u2019s deposits were uninsured because they were above the $250,000 limit which the FDIC insures. That fact should be a wake-up call for homeowners, who have seen the median price of homes increase 110% over the past decade, according to NAR data. Homeownership represents a significant investment of time and money and the biggest asset many people own. And just like bank owners and their depositors, homeowners must manage their assets strategically to ensure long-term sustainability.<\/p>\n\n\n\n<p>You can help your clients get on the path to sustainable homeownership by sharing these eight asset management and risk mitigation strategies that banks follow\u2014and that also apply to good stewardship of a home.<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Maintain the\u202fasset.<\/strong> Through regular maintenance and repairs, homeowners ensure their home continues to serve the intended purpose. Keeping up with routine maintenance tasks like cleaning gutters, inspecting the roof and servicing HVAC systems can help prevent costly repairs down the line and ensure that the home stays in good condition.<\/li>\n\n\n\n<li><strong>Increase value.\u202f<\/strong>\u202fRenovations and upgrades not only improve an owner\u2019s enjoyment but can increase the value of the home. Provided the owners have kept good records (see point 8, \u201cDocument everything\u201d), they can also use improvement to increase the property\u2019s tax basis. That\u2019s important for sellers who have seen big run-ups in value and want to minimize their tax liability when they sell. The National Association of REALTORS\u00ae\u2019 <a href=\"https:\/\/www.nar.realtor\/research-and-statistics\/research-reports\/remodeling-impact\">Remodeling Impact Report<\/a> shows which remodeling projects are likely to have the most value at resale.<\/li>\n\n\n\n<li><strong>Consider insurance options.<\/strong> Like deposit insurance, homeowner&#8217;s insurance has limits. Homeowners should reevaluate their coverage each year to be sure they\u2019re adequately covered for replacement costs. They may also want to explore other risk-management options, such as security systems and impact-resistant roofing products that can reduce their insurance costs and further protect their home.<\/li>\n\n\n\n<li><strong>Have a contingency plan.<\/strong>\u202fHomeowners should have a plan in place in case of a fiscal crisis or unexpected event that could affect their ability to pay their mortgage. This includes having emergency savings, a budget and a plan for managing debt.<\/li>\n\n\n\n<li><strong>Communicate with lenders.<\/strong>\u202fWhen it comes to managing a mortgage, homeowners should make timely payments and consider refinancing if interest rates drop or their credit score improves. They should also maintain open communication with their lender and inform the lender of any changes in their financial situation that could affect their ability to make mortgage payments. Additionally, it&#8217;s important for owners to be aware of the terms of the mortgage and to avoid taking on too much debt or borrowing against the equity in the home without careful consideration.<\/li>\n\n\n\n<li><strong>Seek professional advice.<\/strong> In addition to working with a REALTOR\u00ae when they buy or sell, homeowners should seek professional advice from financial advisors, mortgage brokers and other experts to help them manage their asset and make informed decisions.<\/li>\n\n\n\n<li><strong>Keep track of your assets.<\/strong>\u202fA home is not just a place to live but also an asset that can appreciate over time. Homeowners should regularly assess the value of their home and keep track of any changes that could affect its value. This includes monitoring changes in the local housing market, interest rates and property taxes.<\/li>\n\n\n\n<li><strong>Document everything.<\/strong>\u202fRecordkeeping is core to the service that banks provide, and it\u2019s essential for homeowners, too. From the moment of purchase, owners should keep all the documents, records and transactions from their home, including details and costs of renovations and upgrades that can be added to their tax basis (see point 2, \u201cIncrease value\u201d).<\/li>\n<\/ol>\n\n\n\n<p>Bank failures are a cautionary reminder of the importance of strategic asset management. Just like banks\u2014and the companies, entrepreneurs and investors who park their money in banks\u2014homeowners need to take a proactive approach to maintenance, upgrades and financial management. By taking these steps, owners help ensure that their home remains a source of long-term financial stability and security for themselves and their\u202ffamily.<\/p>\n\n\n\n<p>\u00a9National Association of REALTORS\u00ae<br \/>Reprinted with permission<\/p>\n","protected":false},"excerpt":{"rendered":"<p>High-profile bank failures offer lessons worth sharing with your clients and customers. Key takeaways: The high-profile failures of Silicon Valley Bank and First Republic Bank are an object lesson on the importance of managing one\u2019s assets. Companies, entrepreneurs and venture capitalists, who had more than $170 billion stored at SVB, were left scrambling to access &hellip; <\/p>\n<p><a class=\"more-link btn\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/strategies-for-maintaining-a-home-as-an-asset\/\">Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4],"class_list":["post-22304","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","item-wrap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Strategies for Maintaining a Home as an Asset - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/strategies-for-maintaining-a-home-as-an-asset\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/strategies-for-maintaining-a-home-as-an-asset\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/strategies-for-maintaining-a-home-as-an-asset\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Strategies for Maintaining a Home as an Asset\",\"datePublished\":\"2023-06-07T12:15:38+00:00\",\"dateModified\":\"2023-06-07T12:15:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/strategies-for-maintaining-a-home-as-an-asset\\\/\"},\"wordCount\":821,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/strategies-for-maintaining-a-home-as-an-asset\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/strategies-for-maintaining-a-home-as-an-asset\\\/\",\"name\":\"Strategies for Maintaining a Home as an Asset - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#website\"},\"datePublished\":\"2023-06-07T12:15:38+00:00\",\"dateModified\":\"2023-06-07T12:15:42+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/strategies-for-maintaining-a-home-as-an-asset\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/strategies-for-maintaining-a-home-as-an-asset\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/strategies-for-maintaining-a-home-as-an-asset\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Strategies for Maintaining a Home as an Asset\"}]},{\"@type\":\"WebSite\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#website\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/\",\"name\":\"Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania\",\"description\":\"Properties and Real Estate for Sale\",\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/anthony-110x150.jpg\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/anthony-110x150.jpg\",\"contentUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/anthony-110x150.jpg\",\"caption\":\"admin\"},\"logo\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/anthony-110x150.jpg\"},\"description\":\"For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both. Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary. Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that \u201cperfect\u201d property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently. When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting \u2013 or exceeding \u2013 his clients\u2019 expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame. For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania\u2026 call Anthony DiDonato.\",\"sameAs\":[\"http:\\\/\\\/www.anthonydidonato.net\"],\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Strategies for Maintaining a Home as an Asset - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.anthonydidonato.net\/wordpress\/strategies-for-maintaining-a-home-as-an-asset\/","twitter_misc":{"Written by":"admin","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.anthonydidonato.net\/wordpress\/strategies-for-maintaining-a-home-as-an-asset\/#article","isPartOf":{"@id":"https:\/\/www.anthonydidonato.net\/wordpress\/strategies-for-maintaining-a-home-as-an-asset\/"},"author":{"name":"admin","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908"},"headline":"Strategies for Maintaining a Home as an Asset","datePublished":"2023-06-07T12:15:38+00:00","dateModified":"2023-06-07T12:15:42+00:00","mainEntityOfPage":{"@id":"https:\/\/www.anthonydidonato.net\/wordpress\/strategies-for-maintaining-a-home-as-an-asset\/"},"wordCount":821,"publisher":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908"},"keywords":["Anthony DiDonato","News","Real Estate"],"articleSection":["News","Real Estate Tips"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.anthonydidonato.net\/wordpress\/strategies-for-maintaining-a-home-as-an-asset\/","url":"https:\/\/www.anthonydidonato.net\/wordpress\/strategies-for-maintaining-a-home-as-an-asset\/","name":"Strategies for Maintaining a Home as an Asset - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania","isPartOf":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#website"},"datePublished":"2023-06-07T12:15:38+00:00","dateModified":"2023-06-07T12:15:42+00:00","breadcrumb":{"@id":"https:\/\/www.anthonydidonato.net\/wordpress\/strategies-for-maintaining-a-home-as-an-asset\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.anthonydidonato.net\/wordpress\/strategies-for-maintaining-a-home-as-an-asset\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.anthonydidonato.net\/wordpress\/strategies-for-maintaining-a-home-as-an-asset\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"http:\/\/www.anthonydidonato.net\/wordpress\/"},{"@type":"ListItem","position":2,"name":"Strategies for Maintaining a Home as an Asset"}]},{"@type":"WebSite","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#website","url":"http:\/\/www.anthonydidonato.net\/wordpress\/","name":"Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania","description":"Properties and Real Estate for Sale","publisher":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"http:\/\/www.anthonydidonato.net\/wordpress\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":["Person","Organization"],"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg","url":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg","contentUrl":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg","caption":"admin"},"logo":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg"},"description":"For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both. Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary. Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that \u201cperfect\u201d property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently. When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting \u2013 or exceeding \u2013 his clients\u2019 expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame. For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania\u2026 call Anthony DiDonato.","sameAs":["http:\/\/www.anthonydidonato.net"],"url":"https:\/\/www.anthonydidonato.net\/wordpress\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/posts\/22304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/comments?post=22304"}],"version-history":[{"count":0,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/posts\/22304\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/media?parent=22304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/categories?post=22304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/tags?post=22304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}