One of the reasons you buy a house is that eventually you will have to sell it. Whether you sell it sooner to move into something else, or whether you sell it later to pad your retirement income (or get a reverse mortgage), eventually selling is an option. But what happens if the home has decreased in value? In order to prevent this from happening, it is important to look at durability.

Durability is a function of how well a house is built. Basically, is it built to last? A mortgage loan is an investment in your home. Eventually, you hope to be able to make a little more than you pay in. But if your home is not durable, you might find it losing value as the years progress. And this means that it is not a wise invesment. Inman News points this out about durability:

What’s required to ensure that your new
house will look as good in 30 years when your mortgage is paid off as
it did on the day you moved in?

The answer: a strong focus on durability, which is "the
most underrated aspect of any new house," said Dan Chiras, a green
building expert, teacher and author of "The New Ecological Home," who
is based in Evergreen, Colo. It’s surprising that it gets such scant
attention from the buying public, he added, because over time it’s the
reason that some houses come to be valued more than others.

So, before you sign those mortgage loan papers, consider what you are getting. Will the house stand the test of time? Is it made of quality materials that will hold up? If so, you are making a better investment in your future.

Tags: mortgage loan, personal finance, financial planning, finances,
financial goals, value mortgage loan, home investment, reverse mortgage