Many of my clients ask me, ” Are there certain steps I should take now to prolong expensive home repairs later?” It is important to have an annual exam of everything in your house. Double check the condition of parts of the house like the foundation, the plumbing, wiring, roof basically everything that you can. The best way to avoid costly surprises is to proactively check these things. Another great way to keep your repairs in check is to keep track of the potential lifespan of some big ticket items in your house like water heater, roof, HVAC. This allows you to budget in for repairs and replacement costs so that you avoid those ugly surprises. It also is smart to get warranties (such as service contracts for your furnace) on some parts of your home to help cover costs of repairs.
A good number to budget into your home expenses for repairs is 1% of the purchase price of your home every year. This 1% can be set aside for things like repairing gutters to caulking windows and normal annual maintenance plans like furnace tune up etc. Older homes may have differed maintenance that needs more work then say a brand new house. Many people do not keep their annual maintainable seriously and forget to budget for repairs, do not do this!
Otherwise, your home’s value could suffer if you allow it to fall into a state of disrepair. Remember, too, that the cost of good home maintenance is usually minor compared to what it will cost to remedy a situation that you allowed to get progressively worse. For example, unclogging and sealing gutters may cost a few hundred dollars. But repairing damage to a corner of your home where gutters have leaked can potentially cost several thousand dollars.
When it comes time to make the repairs, improvements, and or replacements, be an educated consumer. This is of course assuming that you can not do it all your self. If you need to outsource the home improvement / repair item and you do not know who to turn to, ask a reliable source for a referral. For an example, Most Realtors pride themselves on knowing great local contractors and other service professionals. Now, it can still be a good idea to compare the proposal to make sure your are getting a reasonable bid. This does not necessarily mean the cheapest, which may be Inexpensive, and shoddy work which may only cost you more money in the long run. Another great resource, are review sites and directories such as Yelp or Angies list. Particularly for those large cost improvements its a really good idea to check to make sure the company is in good standing with the Better Business Bureau and if licensed professional still in good standing with the state they are doing business in.
Want to find out more about home improvement , then visit Brendan Spear’s Great Maryland Living’s Website on Real Estate tips andnews for all your MD Real Estate needs. Brendan Spear-New Focus Realty 410-721-7625 – Equal Housing Opportunity.
categories: house, service, maintenance, budget, home
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