Homeowners have some big advantages over renters. Experts agree that, all else being equal, paying into a mortgage is generally a better move than paying rent. While rent payments disappear forever, mortgage payments are going towards a massively valuable asset that can help you expand your wealth. In most parts of the country, buying a home is a better move than renting.
But buying a home also puts you on the hook for certain responsibilities. Renters can call their landlords for help when a leak springs or a light switch stops working. But homeowners have to fix these things themselves, and it is their asset that is deteriorating when things go wrong on their property. That’s part of why it is so important to be proactive about maintaining your home.
Why maintenance is key
It’s obvious, of course, that a well-maintained home is a more comfortable home. If your toilets aren’t flushing or your ceiling is leaking, you’re going to be less comfortable in your own space. You want to fix this kind of stuff.
But other reasons make maintenance so vital for homeowners, including plenty that rely on the cold, hard economics of homeownership.
When you own a home, you own a valuable asset that you may later sell or use in some other way. For instance, maybe you’ll reach old age and need a source of income — whip out a reverse mortgage loan calculator, and you’ll see that you can actually draw a significant income from your home while still living in it, all because of the property’s underlying value.
But that value fluctuates. It fluctuates based on the national and local real estate market, of course, but it also fluctuates based on the value of the house itself. Keeping your home in good repair means better preserving the value of the property itself. In fact, certain home improvement projects can actually increase the value of your property.
How to maintain your home
Maintaining a home can seem like an overwhelming task, but it doesn’t have to be. In fact, there are a few key things that you can do to ensure that things never get too far out of hand.
For starters, be proactive. It’s virtually always a better move to invest in preventive maintenance rather than to wait for things to go wrong on your property and then repair them. Preventive maintenance stops issues early (or prevents them entirely), which will mean lower maintenance costs for you — not to mention a more comfortable and better-maintained property.
To stay on top of regular preventive maintenance, you’ll need to make use of checklists and schedules. Make sure that you’re using a calendar to track your seasonal home maintenance tasks. Forgetting to do basic stuff can create much larger problems.
But you’re not in this alone. You can and should enlist the help of trained professionals. Work with contractors you trust, including electricians and plumbers. Only trained professionals can do certain types of work, and the experts will be able to tell you what sort of maintenance tasks are most important. Working with experienced plumbers and other professionals will save you money in the long run — just like a sewer camera inspection is always going to be cheaper than something like a sewer line replacement.
Working with reliable plumbers and other professionals will also help you keep track of tasks. Ask about long-term agreements and regular inspections — cutting a deal with a trained professional can help you take a little bit off of your plate when it comes to preventive maintenance.
Loves home. I am here to provide how to make your home a much better place. 🙂 Blogging about HomeDecor, Home Improvements and more.
