Angie Hicks, the creator of the Angie's List website, says, "Unfortunately, there are projects that have to be done around your house that you are never going to talk to other people about like updating wiring, replacing your roof. They are not fun and exciting, but if you don't do these things it's really going to hinder the value of your home and its resale value."
Here are three home projects you should never avoid.
One, repairing the foundation. Get that slow-growing crack up the wall checked out before it's too late.
Two, removing mold. Failure to remove it can cause health problems. Make sure to hire a remediation company that finds the source of the mold.
Three, update electrical wiring. Rewiring a home or modernizing an aging electrical system is not cheap, but you'll sleep better knowing there's a decreased risk of fire.
Angie's List says spending money on needed projects can be painful, especially when you don't have an emergency fund.
Financial planners recommend tucking away at least $5,000 for these types of situations. If you don't have an emergency fund, start small. Have a portion of each paycheck automatically deposited into a savings account.