The Cost of Delaying to Maintain Your Home
At some point, you may have noticed a leaky faucet. Or, a slightly drafty window. Maybe even chipped paint on your home’s exterior trim. When you have, you may have though, That’s no big deal. I can take care of it later. Too often, however, later (or someday) never comes. And one day, you realize that you’re now facing severe water damage, windows that are cracked, or extensive wood rot. That’s often the reality of delaying home maintenance. What starts off as a small problem quickly turns into a bigger one that cost much more than if you had fixed it promptly. Look to The Uncluttered Life’s Declutter Deck® for tips and tricks about home organization.
A Ripple Effect
Many problems in your home do not just happen overnight. Rather, they are the result of slow degradation over a longer period of time. Think of a small crack in your foundation. You aren’t sure where it came from, but it seems relatively harmless. So, you push it to the back of your mind. However, it might be due to a leaky gutter that caused water to pool next to an exterior wall every time it rained, leading the soil to gradually erode, your foundation to shift, and the crack to appear. That is bad enough on its own, but because none of those issues were addressed, water can now seep into the small crack. This results in more structural damage that could have been avoided if the initial repair had been made right away. Instead of putting off your to-do list, take a more proactive approach to home maintenance and fix problems as you notice them. You’ll not only save money but also be investing in your home’s future and your peace of mind. So always remember that a little effort today can prevent a big headache and additional stress in the future.
Insurance Concerns
A home with deferred upkeep can be a ticking time bomb. This is especially true for homeowners insurance. Your policy protects you from covered events, but it may also come with an expectation of reasonable maintenance. If you neglect a known issue and it leads to further damage, your insurer might deny your claim entirely. They may argue that proper care could have prevented a greater problem. Even if your claim isn’t denied, a history of neglecting these items may lead to higher premiums in the future since a poorly kept home presents a higher risk.
Is My Home Value Affected?
Whether you’re hoping to sell your home this year or in the future, try to put yourself in a potential buyer’s shoes. If they notice a leaky faucet, for example, they may wonder what else is wrong with the home. This may, in turn, reduce your home’s value and your bargaining power when you go to sell. You want the highest offer and you don’t want to have potential buyers finding fault with your home. On the other hand, regular maintenance demonstrates that you’ve taken good care of your home, which could make it more attractive to buyers. This may eventually lead to a higher selling price.
Energy Efficiency
Though they may just seem like simple irritations, problems like drafty windows and doors shouldn’t be ignored. Even though the temperature indoors may stay steady, it may take more energy to maintain that temperature. The reality is that the HVAC is having to work harder to keep yor home at an even temperature. Without a tight seal, you’re wasting energy, like experiencing higher utility costs, and ultimately reducing the lifespan of your home’s system. This could mean replacing it sooner than you would have otherwise done.
Repair Price Increases
Minor home repairs and tasks are essentially preventative measures since they often eliminate problems before they have a chance to become major issues. When you wait until a pipe starts to leak or your ceiling is sagging, you’ll be stuck having to deal with emergency repairs, which are more stressful and substantially more expensive that routine maintenance. Imagine the difference between replacing a worn-out gasket on your faucet now versus paying a plumber to fix a burst pipe later.
This same approach applies to other areas in your home. This includes pipes, roof, appliances, HVAC, landscaping and so much more. Leaving issues unattended may come back to bite you in a major way.
A Last Word About Home Repairs and Maintenance
As a general rule, you can expect to spend about 1 to 4 percent of your home’s value on annual upkeep. That may seem like a lot, but it’s worth the investment when you recognize the true value of your home and the costs of deferring regular maintenance.