The maintenance mindset
You always hear about all the advantages of homeownership, like tax breaks, accumulation of wealth, and other less tangible, social benefits.
But is there a downside, too? Well, that depends on your perspective. I find one of the biggest adjustments for renters-turned-homeowners is the ownership factor. If something breaks or needs some TLC, there is no longer a landlord to lean on, and ignoring it doesn’t make sense — as a homeowner, you are responsible.
Home maintenance is an ongoing part of homeownership and can be expensive, frustrating and tedious. Finding a convenient time to perform small, routine repairs can be challenging, and Murphy’s Law seems to apply to big problems — they happen at the most inopportune times. For this reason, it is to your advantage to have a sum of money earmarked for home maintenance. Problems will arise, even in new homes.
Despite the expense and the aggravation, though, it’s worth it to stick to a maintenance schedule and make repairs as needed.
From top to bottom
There’s an extensive list of things you should do to protect your investment and keep it looking sharp and in sound condition. Because every house is different, I encourage you to do your own research, but here are just a few ideas:
Do an annual visual inspection on your roof, or pay a reputable company to check it out for you, especially if there’s been severe weather. Hail is particularly damaging.
Head up to your attic, or again, hire someone if you’re not comfortable with the task, and check for signs of water leakage from the roof. Also look for any indications of termites or rodents. Squirrels or rats nesting in your attic are not particular about what they chew, and they sometimes gnaw electrical wiring, which can lead to damaged infrastructure or fire.
Does the exterior of your home have peeling paint? It seems cosmetic, but paint is a first line of defense against the weathering and aging of wood. You should also know that it’s less expensive, less difficult, and less time-consuming to paint before the existing coat begins to peel. Brick, stucco and siding should be inspected as well.
Depending on the level of traffic, hardwood floors should be refinished every five to 10 years. If they get too worn down, you’re risking permanent damage to the wood.
You’ll want to check for leaks in any room that has lavatories, commodes, showers, or any other water-based amenity – remember to feel around under sinks for dampness.
In some older homes, cast iron was used for the wastewater lines. These pipes eventually fail. If the seepage is under the foundation, you’ll probably never notice, but it may be worth it to have a professional plumber come check it out. If the leak gets bad enough, it can cause your foundation to dome, which can definitely lead to big problems.
Speaking of foundation issues, maybe your house isn’t showing signs of problems, but are you taking steps to keep it that way? The main cause of foundation problems, whether pier and beam or slab, is fluctuations in the moisture content of the soil. If the soil beneath a foundation swells uniformly or shrinks uniformly, it is unlikely to cause a problem. When only part of the foundation moves, though, you’re likely to see signs of damage.
Your efforts pay off
Even long-term homeowners evnetually sell their properties, — or their heirs do. If you defer repairs and maintenance, sooner or later you’re going to have to deal with it – either by doing significant work prior to sale or by reducing your asking price to compensate for the needed work.
One of the best things about homeownership is that your investment typically appreciates over time. In order to support that appreciation, though, the home must be well-maintained.
Maintenance and repairs are like a trip to the dentist – not many of us really look forward to it, but it’s necessary, it pays off, and not doing it will definitely cost you in the long run. Protect your biggest asset by diligently maintaining your home.
Maintenance and repairs are like a trip to the dentist, not many of us really look forward to it, but it’s necessary, it pays off, and not doing it will definitely cost you in the long run.
For more information about real estate in the Lone Star State, I encourage you to visit TexasRealEstate.com — the consumer-oriented site maintained by Texas Realtors.
