Even though professional services are quite costly, you should conduct regular maintenance checks on your property. In addition to preventing problems, regular inspections can increase the value of your home and protect your health. Here are some reasons why home maintenance is essential:
Budget for home maintenance
Budgeting for home maintenance is always a good idea, as it can add up quickly. Even a simple repair can cost as much as 1 percent of your home’s value. By setting a budget, you’ll be better able to manage these costs and even complete some projects when you have extra money. Not only will this improve the aesthetics of your home, but it will increase its value, too. Thankfully, there are several different ways to budget for home maintenance.
Generally, home maintenance costs vary by location, but if you live in a climate with heavy rain or generally damp environments, you’ll need to budget more for repair work. Even if you have a budget for monthly repairs, consider hiring professionals for some projects. It’s not a bad idea to split larger tasks into smaller ones, such as painting or fixing a faucet. It can be helpful to break down the cost of a large project into smaller monthly payments so that you can pay for the work over time.
Increases value of a home
Performing regular home maintenance can increase the value of a home. The appearance of a home’s exterior can affect a potential buyer’s decision to buy the property. A well-kept home’s driveway should be free of snow and ice buildup, and deicing salts should be promptly removed. Keeping these areas well-kept can boost a home’s appeal and market value.
Regular preventative maintenance can improve the value of a home and help you sell it for more money in the future. Studies have shown that preventive care and strategic upgrades can boost the value of a home by as much as 10% annually. Homeowners can benefit from this increase because it increases the perceived value of their home, which can be a crucial factor when trying to sell or rent a property. It will also appeal to renters and buyers as a well-kept home looks better.
Saves money
Home maintenance is essential for every homeowner, and a few simple steps can save you time, money, and headaches. A simple step can prevent significant problems before they occur. For example, if your floor gets water damaged, this could result in structural damage or rotted flooring. These issues can cost up to $5000 to repair, so preventative maintenance is a wise investment. In addition, preventive maintenance will also save you from the headache of hiring a plumber.
A general rule of thumb is to budget between one and four percent of your home’s annual value for home maintenance. This amount covers the cost of repairs and replacement. Depending on the age of your home, your costs could be higher than the price you paid for it. For older homes, you can check the value on real estate websites or get the property tax assessor’s valuation. The savings from home maintenance can add up over time so a small monthly budget can go a long way.
