We maintain and improve our homes for numerous reasons. We do this to ensure the safety, comfort, and aesthetics of the property. We also try to commit to regular home maintenance to maintain and boost its value. But then, not all homeowners carefully plan home maintenance. They simply tackle repairs when the need arises and would only improve the property whenever they want.
Many homeowners skip careful planning and budgeting which is why they fail to maximize their projects. This often leads to a series of costly consequences and extreme feelings of regret. If you are a new homeowner, then some of the worst mistakes you don’t want to commit are the following.
Forgetting to Keep a Maintenance Log
Only a small number of homeowners actually keep up with a home maintenance checklist. This list contains all the projects they tackle on a monthly, quarterly, biannually, yearly, or even after every few years. Such a checklist helps ensure you don’t miss any home maintenance tasks that can seriously influence the integrity and value of your property.
An even smaller number of homeowners have a maintenance log. This contains all the maintenance and repair projects they tackled ever since they started owning the house. Even if you can live in peace and sell the house without a maintenance log, there will be times when you can benefit from such records.
A home maintenance log keeps records of every maintenance, improvement, and repair you ever did for your home. This contains details like the materials removed and what materials are replaced, who are the contractor, where you bought the materials, etc. This gives you an accurate reference of what has been done to your home.
For instance, your water heater broke off. Without a maintenance log, it will be hard to remember when was the last time your hired repair services for your hot water tank. When you keep a record for everything, you can quickly call your go-to technicians and have your water heater services the same day.
Skipping a Home Maintenance Savings
One mistake both first-time and veteran homeowners make is failing to plan for future home improvement and maintenance expenses. Your home is a valuable investment. Failure to regularly maintain the property can lead to bigger and more expensive repairs.
Even if you have a newly constructed home, you need to make sure you save enough money each month for future repairs and maintenance. As a general rule, experts recommend saving up to three percent of your home’s purchase price yearly. For instance, a house bought for $500,000 requires at least $5,000 each year for home maintenance alone.
When you regularly and consistently save for home maintenance and improvement projects, this eliminates the need to apply for a loan. You get to eliminate costly interest fees and have instant access to home repair funds as needed. You also get that peace of mind knowing you can very well finance costly projects without having to use your personal savings.
Overbuilding and Overimproving Your Home
It is only natural to want to improve your home and make it stand out in your neighborhood. But then, overdoing it can actually hurt its value. Remember that the value of your property is also influenced by the other properties surrounding your home.
For one, you want to conform to your homeowner’s association before you tackle any exterior home maintenance or improvement project. You don’t want HOA fines to add to your already short budget. You want your property to fit the neighborhood, maintain its value, and ensure you follow zoning restrictions as well.
Before you do anything, consult your HOA and check with your municipality if you require any permit for your projects. Focus on projects that bring in a better return on investment and as trusted sources like a local real estate agent for good measure.
Adopting an “I’ll Do It Later” Attitude
Lastly, avoid procrastinating when it comes to home maintenance and repair. Every little task you delay can always lead to bigger problems. If you keep on delaying your projects, you might end up forgetting them only to remember when it is already too late.
One should keep up with regular home maintenance and try to tackle the repairs the soonest time possible no matter small the tasks may be. This enables you to stop the problem from becoming a bigger issue. You can also save more by doing preventive home maintenance instead of repairs.
While you’re doing the minor repairs, be sure to keep your eyes open for other issues. Don’t let making excuses become a habit. Be responsible with your home maintenance and you can enjoy better perks in the future.
These are but four of the most common but costly mistakes homeowners make when maintaining their homes. Avoid procrastinating, over-improving, and overbuilding your home. Always keep a maintenance log and be consistent when saving for home repairs. These tips will help you achieve home maintenance success whether you are a first-time homeowner or not.