There are plenty of places for a homeowner to spend money. Unless your home is 100% up-to-date, chances are that you’ve got a dream project in mind, be it a kitchen remodel, backyard rejuvenation or bathroom addition. But before you go putting your home equity on the line it’s important to be sure that you’re not neglecting the not-so-fun responsibility of home ownership: maintenance.
“Maintenance” is one of those words that instills a sense of fear in the heart of many homeowners. Essentially the word implies spending a chunk of money on a project for which you’re not likely to find joy in at the end, like replacing your roof shingles or updating your electrical panel. Dreary as it may be, however, it’s important to keep your home well-maintained in order to realize its full potential at resale and to keep the roof over your head- literally.
Some maintenance items that should be taken care of sooner than later include roofing needs, rotten wood, plumbing problems, water leaks and anything electrical that seems to be malfunctioning, to name a few. These items are often easily enough taken care of if done in a timely manner but can cause big (and costly) damage if left untreated. Rotten wood, for instance, may seem innocent enough but consider that rotten wood leaves your property vulnerable to water damage which can cause huge problems in the long run.
This probably seems like common sense as you’re reading it but the temptation to spend your hard earned money elsewhere can be great. When this temptation rears its ugly head just remember this: your beautiful kitchen remodel or new flooring won’t look nearly as good or be nearly as enjoyable if the roof leaks on it and you find yourself with standing water.
When considering home maintenance, be sure to let the pros handle jobs that are outside of your expertise and avoid making costly mistakes.
Remodeling and updating your home can be fun and the right improvements can increase your property’s value. But these items will mean nothing at all if you don’t maintain the actual structure and major systems of your home. Additionally items like rotten wood or water leaks are commonly requested lender required repairs when you go to sell your home, so leaving them alone until that point just means that you’ll more than likely end up fixing them before closing can take place.