To move or not to move, that may be the question. For many people the economic downturn has crippled the housing market. Prior to this downturn, on average, families moved just about every five to seven years. But now homeowners are stuck with negative equity and simply owe more to the bank than their house is worth making selling up and moving up near impossible. This has caused a tremendous upturn in the home improvement and do-it-yourself industry.
More and more people are staying in their old home and doing improvements instead of moving. If you find yourself in this situation you can use your savings to improve or completely remodel your home. If you are fortunate enough to be employment, pay more to your mortgage monthly and fix up the house. This is a way to move past any negative equity. Your house value will eventually rise no matter how poor the market is at the moment and any improvement you do now will make your house value rise a lot more when the market eventually recovers.