The value of your house is one of your most important investments, so you want to see it increase in value over the years.
Home, however, is a physical structure that requires regular maintenance since damage and aging are unavoidable.
Here are some of the most frequently asked questions about home maintenance, including when to start different maintenance projects and how much to budget for maintenance each year.
Updating Home Maintenance
Your home will start to exhibit signs of wear and tear as it ages, whether you bought a brand-new piece of construction or you moved into an older house or condo. The best strategy to safeguard your investment in your home and ensure that its value rises over time is through regular home maintenance. When you decide to sell, any maintenance issues you've neglected over time will be revealed in the house inspection report, which may prompt a buyer to lower their offer or back out of the deal entirely. It is very advised that you keep your house in excellent condition because doing so will increase how much you appreciate being a homeowner.
Maintenance items should be checked on a regular basis
- Each month, check your air filters to clean or replace them as needed, clean out the garburator in your kitchen sink, and inspect your fire extinguishers.
- Every three months, you should run the water in any unused bathrooms or sinks to flush out the piping, test your smoke detectors, and inspect your windows and doors to ensure they are properly sealed.
- It's worth cleaning out the back of the refrigerator and its coils twice a year, replacing batteries in any detectors or other critical items that use them and inspecting your hot water heater to ensure it's working properly.
Budget for Annual Maintenance
The amount you set aside for maintenance projects is determined by factors such as your home's age, condition, and the amount of abuse or damage it receives throughout the year. Many people follow the rule of thumb of setting aside one percent of the home's value each year for maintenance. While it is unlikely that you will need to spend a significant amount of money on repairs every year, you may require a costly upgrade such as a roof replacement or foundation repair in some years.
Home maintenance may appear to be an endless list of chores and projects, but the time you invest in maintaining your home and property will significantly increase its worth.