How Tracking Home Related Expenses can Help You Live a Better Life

home related financesIn a recent interview with Northpoint Bank, our cofounder, Elizabeth Dodson, was asked her suggestions on how tracking home related expenses can help any homeowner. Beth identified with some of the struggles homeowners face. Struggles like difficulty in tracking home related expenses and the multiple systems it requires to track all the details of the home.

Knowing the Details

By tracking home details including home related expenses in one central system, homeowners have can make the best decisions for their life. How much money do they have for home remodel projects? Do they know when a refinance is an option? Do they know when securing a home equity for projects, college or medical expenses is possible?

Using a central system to track the details of the home can also help homeowners maximize their time. Less time spent on searching for things around the house, means more time to play and relax.

Expenses versus Home Value

When it comes to home related expenses like the contents of the home, costs of tasks and projects, and monthly expenses, homeowners often do not have the data at their fingertips. Expenses can directly impact the value of a home. For instance, adding specific types of projects can increase the value of the home. And keeping a home operating properly with good home maintenance also has an impact on the home’s value.

Centralized Data

Beth provided information on what a digital home management solution was and how it can help track the details of any home. Home management solutions make it easy for homeowners to know everything about their home in one central location.

To read the full article with Beth’s thoughts, please visit the Expert Interview Series with Northpoint Bank.