Home renovations after a certain amount of time may seem like a no-brainer — but is doing so really necessary, or has a culture of constant change created an artificial need to evolve despite situational requirements?

Here’s a hint: it’s the second one.

Much like replacing your phone or laptop after a couple of years, renovating one’s home has become a time-stamped activity.

Unlike replacing your phone or laptop, renovations can be incredibly expensive, and — unless someone is flipping a house — they’re also inherently self-serving.

Unfortunately, due to countless house-flipping shows and successful alarmist marketing, it can be easy to begin to view your house’s appearance as a chore rather than a hobby or investment.

The reality of the situation is much simpler than it appears. Conditions under which you absolutely should renovate your home include circumstances involving things such as non-compliant materials (get rid of the asbestos, Gary), outdated or hazardous construction, a Realtor says it won’t sell without them, and other quality of life updates — not because five years have passed and your neighbor sighed at your outdated shiplap.

In other words: if your house is objectively okay, it doesn’t need “fixing.”

That isn’t to say that renovations are unintelligent; if you’re looking for a way to increase both your property value and your home’s livability, updating the décor is a sure way to do so.

Residents with specific design tastes and money to spare shouldn’t refrain from adjusting as wanted, but the bottom line is that your house — despite its invariable quirks — doesn’t need a face lift if you don’t actually want to do the lifting.

There are other alternatives to consider as well. If renovations are extensive, they can easily reach six figures for a small home. In many cases, simply selling the house you own and putting that money toward one which fits your needs may be a better option. Ask your local Realtor.

Unless you’re simply touching up a room’s paint color or installing smart home technology in your ‘60s ranch, renovations are expensive, time-intensive, and generally unnecessary. If you’re hesitantly considering renovating your home, focus instead on the positive – for now, your house is intact, functional, and enough for you.

Is the American dream of owning a home still alive and well in 2019? Well, yes and no. The National Association of Realtors’ (NAR) latest Aspiring Home Buyers Profile survey revealed some surprising numbers.

NAR’s annual report uses information from its quarterly Housing Opportunities and Market Experience (HOME) surveys to take an in-depth look at the consumer preferences of Americans who don’t own a home, whether they pay rent or not. Those surveyed were asked to weigh in on everything from housing affordability to the American dream of homeownership to whether it’s a good time to purchase a home.

The 2019 Aspiring Home Buyers Profile found that while more than 90 percent of homeowners still believe that homeownership is part of the American dream, only about 75 percent of non-homeowners feel the same way. Why do nearly one-fourth of those non-homeowners think that way? The answer is simple: Affordability. Nearly half of non-homeowners in the third quarter of 2018 said the main reason they don’t currently own was they couldn’t afford it (up from 33 percent in Q2). Those blaming affordability for their non-homeownership dropped back to 43 percent in Q4.

The non-homeowners’ hesitation might be warranted. While no one can know exactly what will happen in the coming year, many forecasters predict home prices will rise again — at a minimum of 2 to 3 percent — in 2019.

Despite the financial obstacles ahead of them, a majority of non-homeowners remained optimistic last year. Millennials may not be buying diamonds or soap bars, and minimalism reigns supreme with the aging demographic, but homeownership remains part of the American dream, even if the dream is riddled with anxieties.

The number of them who still hoped to own a home in the future never dipped below 73 percent in 2018. Their main reasons they would buy? An improvement in their financial situation (28 to 31 percent) or a change in their living situation, e.g. starting a family or retiring (26 to 30 percent).

An interesting note: In the fourth quarter, the HOME survey added questions pertaining to friends and family moving in with the respondents in 2018. Nine percent of respondents reported an adult child moving in, with another 5 percent reporting another adult moving in during the past year. Nearly half of those respondents said it was planned to be a long-term or permanent move. However, the survey did not ask those respondents if affordability was a factor in this decision.

In 2015, the U.S. adult LGBTQ population had over $900 billion in combined buying power. Most financial experts believe that the figure is only increasing, making the LGBTQIA+ community an important aspect of the economy. The real estate industry should be paying attention.

Research shows same-sex couples face discrimination when getting a mortgage.

Although the LGBTQIA+ community has a huge impact on the economy, many still experience discrimination based on sexual orientation and gender identity. The Movement Advancement Project reports that about 44% of the LGBT population lives in states that do not prohibit housing discrimination against the community.

Researchers from Iowa State University analyzed mortgage data to determine the impact of discrimination on the LGBT community. The study, published in “Proceedings of the National Academy of Sciences,” found that LGBT mortgage applicants are 73% more likely to be denied than their heterosexual counterparts.

When same-sex couples are approved, the study found that their mortgage interest rates were a little higher, 0.02 to 0.2% higher. A small figure that can add thousands of dollars to the loan over its lifetime.

The study also found that same-sex borrowers are slightly less risky to lend to.

Mortgage applicants are not required to disclose sexual orientation. On the other hand, the Fair Housing and Equal Credit Opportunity does not specifically prohibit discrimination against sexual orientation and gender identity (although members of the National Association of Realtors are barred from doing so).

The ISU study researched mortgage data from 1990 to 2015, before the U.S. Supreme Court legalized same-sex marriage in every state. It’s possible that lenders’ attitudes and algorithms are changing. More research is needed to make sure that same-sex couples have access to credit based strictly on their financial status. Credit agencies may need to investigate their own practices and policies to ensure that they aren’t discriminating.

Texas is an example of one of 26 states that have no explicit prohibitions for discrimination in state law for sexual orientation or gender identity. It’s estimated that about 4.1% of the adult population in Texas are part of the LGBTQIA+ community. Some counties do have local ordinances prohibiting discrimination based on sexual orientation in private housing, Austin included.

At AG, we believe that housing is a fundamental human right. We must work for change within the real estate industry to give everyone access to fair rates in lending.