An important part of parenting is teaching your kids how to be self-sufficient as they grow up and make the best decisions surrounding their investments. Since the home is one of the biggest investments that a person may make in their lifetime, it’s crucial to show them how they can get the most out of their own. Read on to see some of the ways in which you can teach your kids about how someone can make a home last and pay them back.
Think About the Future
This is an important tip because it means that when you spend your money on an upgrade like new furniture, you will be doing so for the long haul. Take a bed, for instance, which has an average lifespan of 15 to 20 years depending on its type. You stand to save money over the long term if you can keep the same bed for a long time as opposed to if you have to keep changing it often. When you teach your children to do this, they will get better experience of what they can do in the future to make their money stretch.
Do Regular Maintenance
A home that is well-maintained will likely stay in good shape for a longer time. This means you can spend less money doing regular preventative maintenance than you will on making extensive repairs when bigger things break down. You should be motivated to do regular maintenance in and around the home by the fact that air conditioners that are regularly maintained last 40% longer than those that aren’t. Despite this, a mere 42% of homeowners call a professional to do routine maintenance on their air conditioning units. Teach your children the right way early on by making sure to have a professional maintain your units regularly.
Use Quality Building Materials
Whenever you have a project to work on at home, it’s important to use the right materials for the project. This is because, with quality materials, you are going to incur the expense of the project once over a longer span of time. Poor-quality materials can force you to redo a job that should have only been done once. This therefore means that, while better quality materials will be a bit more expensive, they will be worth it for the long term.
Pick Remodels With the Best Return on Investment
Another important tip to share with your children is that not all home renovations are created equal. Some have a higher value than others do, so it’s important to pick ones with the greatest possible returns. For example, a deck has an average return on investment of 70%. This makes it worth the time and effort, and you will have hacked parenting because you will also increase your home’s livable space and make the house more enjoyable for your children, family, and friends.
Finish All the Spaces in Your Home
Finally, remember that any unfinished space in your home could potentially improve your home’s value if it was completed. This includes the basement, garage, and even extra bedrooms. If you can do it yourself to a professional standard, then roll up your sleeves and get to work. Otherwise, call an expert and task them with the project. This extra room can be used by your family or rented out to someone who needs it. When your children grow up with this knowledge they will understand the worth of having a complete house with functional spaces throughout.
Keep in mind that effective parenting leads by example as opposed to by simply giving orders to be followed. Therefore, teach your kids these lessons as they grow up and they will likely replicate them as adults.