Regular maintenance helps your home retain value
Whether you're just settling in to a new home or you've been living in your residence for many years, it's in your best interest to keep up on preventative maintenance. Many suggested tasks, like changing appliance filters or insulating windows, may seem minor to homeowners, but these quick chores can go a long way toward ducking depreciation. In fact, experts have noted that conducting routine maintenance and repairs can help to preserve or even increase the value of your home.
Maintenance influences your home's value
It's not the end of the world if you don't clean your HVAC vents one month or re-caulk your windows immediately, but the longer you put these tasks off, the greater the chance is that your home will lose value. House Logic explained that a house with a less-than-ideal appearance will be at a disadvantage if you ever decide to sell.
"If a house is in worn condition and shows a lack of preventative maintenance, the property could easily lose 10 percent of its appraised value," Mack Strickland, a professional appraiser and real estate agent from Virginia, told House Logic. "That could translate into a $15,000 or $20,000 adjustment."
If you're really diligent about performing routine maintenance, you could actually increase the value of your home. Researchers at the University of Connecticut and Syracuse University found that small home repairs can increase the value of a property by 1 percent annually. That can add up to a lot of extra money if you live in your home for a number of years.
Keep up on home maintenance and repairs
There are many different strategies that homeowners can use to keep up on maintenance and repairs. Some people may choose to set aside money every month to put toward their home. Others may just tap into their emergency funds when there are pressing repairs. However, individuals who have a hard time sticking to a budget may want to look into a TotalProtect® Home Warranty if they haven't already. The service can help you pay for repairs on your home's appliances and systems when they break down from normal wear and tear. You can save a lot of money and headaches with TotalProtect and you'll be protecting your home at the same time!
The information in this article is intended to provide guidance on the proper maintenance and care of systems and appliances in the home. Not all of the topics mentioned are covered by our home warranty or maintenance plans. Please review your home warranty contract carefully to understand your coverage.