The following contribution is from another author.
A home is like a human body or a car. If you ignore the small issues, then it’s likely going to lead to catastrophic and expensive repairs. A lot of the problems that come with your home are issues that could have been addressed sooner, but have resulted in larger fixes due to neglect.
That’s why you want to be proactive when it comes to home maintenance. Many homeowners will practice reactive maintenance, fixing things only as and when they break.
Many homeowners, though, practice reactive maintenance, fixing things as and when they break. Shifting to a preventative maintenance mindset is a lot better for protecting your wallet and saving time. It also helps to preserve your home’s equity and prevents any major stress.
With that being said, here’s further insight into why preventive home maintenance helps to save more than reactive repairs.
The Financial Cost: Preventative vs. Reactive
There are huge financial savings that can be made when it comes to preventative versus reactive maintenance.
The 1% rule
When it comes to preventive maintenance, it’s a good idea to set aside 1%-2% of a home’s value annually for routine upkeep. So if your home is worth $350,000, then $3,500-$7,000 is likely to be a good benchmark to help cover all aspects of home maintenance.
Cost comparisons
The best way of convincing yourself to go down the preventative maintenance route is to be aware of the cost comparisons. For example:
- HVAC: A $100 to $200 annual service versus a $7,000 emergency service replacement.
- Roofing: Cleaning gutters and replacing some shingles might set you back a few hundred dollars, whereas rotted roof decks and ceiling water damage could result in thousands of dollars in repairs.
- Plumbing – Fixing a running toilet or a small leak might only be around $80-$150, but managing a flooded basement or dealing with mold remediation might end up costing tens of thousands.
The emergency premium
There’s an emergency premium that comes with emergencies. If you’re calling engineers out on the weekend, over holidays or late at night, then the contractor fees are likely to be double or triple the repair costs.
If you’re getting proactive maintenance checks done, the likelihood is that fewer emergency callouts will be needed.
Beyond Money: The Hidden Costs of Reactive Maintenance
It’s important to be aware of the hidden costs that come with reactive maintenance as an alternative to being proactive with it.
The asset lifespan
Regular servicing will extend the operational lifespan of your appliances, your water heaters, and bigger, more substantial elements like your roof by years. Choosing the right roofing company near you is the best way to stay on top of roof maintenance.
The more you can do to look after all of the above, the less you’ll fork out on new appliances and replacements in general.
Time and inconvenience
Waiting days for parts in a freezing or, alternatively, a boiling house is a hassle and one no one wants to have to deal with. By scheduling a quick and convenient tune-up, you end up saving more in the long run.
Stress and safety
Structural failures, electrical fires, and mold growth can all directly threaten family health and general peace of mind.
With that being said, proactive maintenance is something you should be doing for the sole benefit of your household’s wellbeing. These types of problems in your home can result in life-threatening situations.
Protecting Your Home’s Value and Equity
As a homeowner, you put a substantial amount of money into your property. From the downpayments you make when you buy it initially, to the money you spend on furniture and perhaps overpaying on your mortgage over time.
Protecting that value and equity is important because it helps you get more out of the investment as a result. However, if you’re only being reactive when it comes to home maintenance, then that can often lead to bigger issues that impact the home’s market value.
The invisible decline
With minor issues, these are often ignored, with the homeowner being mindful of getting them fixed at some point in the future. But that ‘some point in the future’ rarely comes about until it’s too late and the problem has evolved into something more serious and costly.
Minor and ignored issues will tend to accumulate into deferred maintenance, severely tanking your property’s appraisal value.
The buyer’s perspective
Savvy buyers and home inspectors will often be able to spot a neglected home instantly. As a result, it can lead to aggressive price drops or failed sales.
Insurance implications
Many home insurance policies will reject claims for water or structural damage if it’s been proven that they resulted from long-term neglect. That’s never a good thing when you’re looking to claim on insurance for repair work or replacements.
Insurance Implications: Many home insurance policies reject claims for water or structural damage if it is proven to result from long-term neglect.
Actionable Blueprint: High-ROI Preventative Tasks
To help make this proactive attitude towards your home maintenance more manageable and realistic, a checklist is a great place to start.
Spring/summer
In the spring and summer months, it’s a great time to inspect your roof and to clear your gutters of any debris that’s clogging them. Servicing your AC is helpful too, as is checking exterior paint and seals.
Autumn/winter
During the cooler months, be sure to flush out your water heater, as well as service your furnace and clean dryer vents. It’s good to check attic insulation too, in order to check if it’s still helping with energy efficiency.
The monthly quick wins
It’s good to have a list of monthly ‘quick wins’ to check and then check off. Testing smoke alarms, checking under sinks for moisture, and replacing HVAC filters are all helpful for keeping your home in tip-top shape.
Get Proactive with Your Home’s Maintenance This Year
Regular upkeep is an investment that yields high financial and emotional returns. While it can feel like an annoying chore at times, it’s the extra effort for your home that can help stop big disasters from occurring to your property.
