January 6, 2024

Maintain your Domain

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Maintain your Domain

Maintain Your Domain: Because a Happy Home is a Home Without Drama (and Leaks)!

Matt and I have had quite a few conversations about deferred maintenance lately. While we understand how it happens, it's expensive and time consuming, especially when it comes time to sell. But honestly, selling or not, we're here to tell you that it's never a good idea. Deferred maintenance refers to the practice of postponing necessary repairs or tasks on a property. While it may provide short-term time and cost savings, it often leads to more significant issues and expenses in the long run. Here's what you need to know about deferred maintenance:

  1. Accumulation of Issues: When routine maintenance tasks are delayed, small problems can escalate into more significant issues. A leaky roof, for example, could lead to water damage, mold, and structural problems if not addressed promptly.
  2. Reduced Property Value: Homes with deferred maintenance tend to depreciate in value. Prospective buyers may be deterred by the visible signs of neglect, and the property may not fetch the best possible price, this is especially true in the current real estate market.
  3. Higher Repair Costs: Postponing maintenance often results in higher repair costs when the issues are eventually addressed. Regular upkeep can help identify and address problems while they are still manageable, preventing the need for extensive and expensive repairs.
  4. Safety Concerns: Deferred maintenance can lead to safety hazards within a home. Issues like faulty wiring, deteriorating structural elements, or malfunctioning heating systems pose risks to occupants and can result in accidents or injuries.
  5. Impact on Energy Efficiency: Neglecting routine maintenance, such as servicing HVAC systems or sealing windows and doors, can reduce a home's energy efficiency. This, in turn, may lead to higher utility bills and a less comfortable living environment.
  6. Home Inspection Issues: When selling a home, a potential buyer's home inspection may uncover deferred maintenance issues. We see this all the time. The biggest offenders are chimney's and sewer lines. This can complicate the sale process, as buyers may either negotiate for a lower price or demand that the issues be addressed before finalizing the sale.

To mitigate the impact of deferred maintenance, homeowners should prioritize regular inspections, address issues promptly, and budget for ongoing maintenance tasks. Establishing a routine maintenance schedule and addressing problems as they arise or hiring a home maintenance service company to do it for you can help preserve the value and integrity of a home over time.

As always from all of us at Matt Engen Group, thanks for reading!

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