Why Property Maintenance is a Must not a need!
Canada has expanded rapidly in the past couple of years in building and construction niche. More than 400K new immigrants immigrated to Canada in 2022 and Canadian Government announcing raising the limit to 500K for coming years has had major impact on Canadian construction businesses and Canadian economy .
More Condominium buildings and private homes means new infrastructure, roads, schools, shops, sidewalks, parks to be build and maintained. A healthy economy boost that is very much needed for post COVID Canada. Sadly, in many cases, that newly build look does not stay very long. Many newly build neighbourhoods turn into sad and unwanted blocks full of weed infested lawns, oily and uneven driveways, overgrown shrubs or peeling and flacking outdoor paint and stucco.
Desired vs. un-desired neighbourhoods
Every Real-Estate Agent can tell you many facts on desired vs. un-desired neighbourhoods, what drives sales up and where a good sale is just not feasible. You may own the prettiest home on your block. But if it’s surrounded by dilapidated eye sores or next to a home out of a horror movie, infested with all kinds of overgrown plants, shrubs, trees, broken doors and oily driveway it likely won’t fetch top dollar. A house in a bad maintained neighbourhood, for example, can sell for 20%-40% less than one on a beautified street a few blocks away.
READ MORE: Consumer spending in Canada shifting for good or worse
Why property maintenance is a must not a need
While it seems like just another thing to add to your to-do list, regular home maintenance is definitely worth your time. While some repairs are inevitable as a homeowner, staying caught up on monthly tasks around the house can prevent major damages and save you money in the long run. Routine home checks can save you a lot of money. For example, a new roof can cost $40.000. However, regularly checking the condition of your roof can save you money in the end, not to mention save you chaos and grief should a faulty door start to leak. A weed infested interlocked driveway is another potential costly repair in waiting. Beside the bad look, weeds and grass will open up capillaries in between pavers, letting water in and washing away your underlayment sand. Creating uneven pavers and even shifting. In this case, you will have not other option but to remove everything and redo ii all again. Routine maintenance is a great way to avoid issues from occurring before they happen as you can fix small problems before they become large problems. Even very little or unnoticed issues like dirt, algae and mold can create havoc and potential health hazard. Pressure Washing provided by a professional can avoid those unwanted occurrences.
Insurance may not pay for damages to your home caused to negligence
Your realtor, mortgage lender and everyone on the Internet has told you how important it is to keep your home maintained, as well as thousands ways to do it. But why is it so important? Beside the appeal and selling aspect of a property, insurances stipulate that if a system, appliance or home structure has failed because of lack of maintenance, it’s not considered “normal wear and tear.” What could that mean to you? Let’s say that your roof has a 13 year warranty and after 16 years it starts leaking, causing $60.000 damage to your home, destroying ceilings, walls and hardwood floors, your best outcome would be your $1000-$5000 deductible, possibly leaving you with all the renovation costs to pay for.
Other costly repairs or replacements could be:
- driveway or walkway interlocking
- windows and doors
- damage to property by overgrown trees
- pest infestation
READ MORE: Home Maintenance Check List – Have a More Valuable Property
How to have the best outcome for your budget
Homeowners need to see beyond short term results. Home ownership is more than having a cosy interior for fun and entertainment. Your home’s location with exceptional curb appeal goes a long way. Hiring inspectors or other professionals in the property maintenance business can save you hard earned money. This is what manufacturing companies for instance must practice if they want to stay in business. A broken conveyor belt at an automobile assembly plant can cause millions in losses every minute if it dos not run. A top maintenance team must be in place with right parts in order to service and predict possible break downs before they occur. This knowledge can and should be implemented in order of having sound home and predictable costs. Every $100 spend in property maintenance is worth $1000 in future breakdowns. Don’t wait for your roof to leak or driveway interlocking to show movement! Spruce up your home’s exterior and tackle every little issue before it gets a big one. Your home interior and your financial status will thank you! You will be thankful for having a operational home, free of defects and costly repairs. Don’t wait until a defect happens! Call a roofer to inspect your investment or call other property maintenance professionals to look over your entire property for faults or possible defects.
Remember, a $600 home inspection or $1000 property maintenance service can and will save you $10K and more in damages.
So, the best advice for all homeowners would be, get your gutters cleaned, trees pruned, gutters sealed, roof inspected, interlocking pressure washed and sealed before it gets really painful for the mental health and finances.
