Owning a home in Canada comes with a sense of pride and security, but it also entails a great responsibility – property maintenance. Proper maintenance of your property in Canada, particularly in bustling cities like Toronto, is crucial for numerous reasons. This article explores the significance of home maintenance, its impact on property value, and why every homeowner should make it a top priority.
Protecting Your Investment
For most Canadians, their homes represent their most significant financial investment. Whether it’s a cozy condo in Toronto’s downtown core or a charming suburban residence, the property’s value can significantly appreciate over time. Now that home prices are at all time high and cost of borrowing on the rise, many Canadians will not have enough money to shop for new home. Instead, they will keep what they already have or they will downsize. Neglecting property maintenance can lead to a gradual decline in the condition of the house, diminishing its value and reducing your return on investment. By regularly maintaining and upgrading your property, you can safeguard your financial stake and ensure long-term appreciation. This can not be said enough!
Many home owners do the right thing and set money aside for repair work and property maintenance, yet many leave home maintenance to the circumstances. Big mistake many professionals will tell you. If you think property maintenance is expansive, wait to hear how much the repair work cost after years of neglect.
Every dollar you spend on property maintenance is $10 saved on repairs. For instance, your driveway interlocking maintenance could cost about $2500, yet if left unprepared, your interlocking would have to be ripped out and replaced. A cost that will go well over $15 000. Scotia bank has a very interesting article about how much money everyone should put aside for home maintenance and it is very accurate and informative.
Preserving Structural Integrity
Canada’s diverse climate, especially in regions like Ontario, can be demanding on residential properties. Extreme temperatures, heavy snowfall, and fluctuating weather patterns can take a toll on a home’s structural integrity. Regular maintenance, including inspecting and repairing the roof, walls, foundation, and HVAC systems, can help identify and address issues before they escalate, preventing costly repairs in the future. Preserving the structural integrity of your home ensures its longevity and enhances safety for you and your family.
Ensuring Energy Efficiency
Efficient energy use is not only environmentally responsible but also essential for cost-saving benefits. In Canada’s colder regions, ensuring proper insulation, sealing gaps, and maintaining heating systems is critical to keep energy bills manageable during harsh winters. For warmer regions, it helps to do the same due to cost of running AC all day long. Regular property maintenance helps identify areas where energy may be wasted and allows homeowners to make necessary upgrades, reducing their carbon footprint and saving money on utility bills.
Enhancing Curb Appeal
First impressions matter, and curb appeal plays a pivotal role in the overall value of your property. Regular property maintenance, including lawn care, landscaping, and exterior cleaning, can significantly boost the aesthetics of your home. In a competitive real estate market, a well-maintained property stands out and attracts potential buyers and tenants. Additionally, attractive curb appeal can foster a sense of community pride and positively impact the neighbourhood’s overall image. Curb appeal is also important to let other neighbours know that you care about your property and the entire neighbourhood. Other neighbours will notice your dedication and they will start to do the same. The more people in the neighbourhood maintain their property well, the higher the price of every home.
Complying with Legal and Safety Requirements
Property maintenance in Canada, including Toronto, is not just about aesthetics and comfort; it’s also about adhering to legal and safety standards. Many municipalities and homeowner associations have regulations in place to ensure homes meet specific safety and maintenance requirements. Neglecting these obligations can lead to fines, penalties, or even legal consequences. Keeping your property well-maintained ensures compliance with all applicable laws and keeps your family and visitors safe.
Where to start?
Property maintenance is of paramount importance for every homeowner in Canada. Beyond preserving your investment and increasing property value, regular maintenance ensures the structural integrity, energy efficiency, and safety of your home. Moreover, enhancing curb appeal can make your property stand out in the real estate market. By taking care of your home, you not only create a comfortable living space but also contribute to the overall well-being of the community. Embrace the responsibility of property maintenance to enjoy the rewards of a well-cared-for and thriving home in Canada.
But where to start, what is most important?
To know what is most important in and around your home, the best place to start is to ask professionals for information. many professionals offer free estimates for instance. You could also hire an home inspector to inspect all the aspects of your home. This way you have a peace of mind, you can decide what to tackle first and what can be left for another day.
The general rule is, maintain your roof, doors, windows, foundation first and move on to maintaining the expensive parts of your home like driveway, interlocking, deck, fence, siding. If you have mold or algae growth, you need to fix that issue, leaky roof, leaky basement, this would come first. But don’t forget your outdoor surfaces as well because those could cost you a fortune to replace if not maintained properly. If you have interlocking driveway, walkway or in the backyard, you should never let grass and weeds grow in between the pavers. This is the sign of damage occurring. Make sure your lawn is maintained well and all sides of your home clean and free of debris where animals could build nests. Once animals start to build nests on your property, removing those could cost you thousands of dollars.
It is ok not to know everything, yet it is important to know where to get the knowledge when needed. Contact your local property maintenance professional for important knowledge that can sae you grief and money down the road.
Risks of delaying home maintenance
Many times, neglected home maintenance responsibilities might result in dangers within the house. This is true when it comes to inspecting equipment like your fire extinguisher, smoke detector, and carbon monoxide detector. The device won’t function properly in the event of a fire or CO leak if the batteries aren’t checked or changed, increasing your danger of getting hurt.
The security of windows, doors, and railings must also be considered. For instance, neglected wooden windows may not lock securely, allowing an attacker to access your house. Unfortunately, homeowners insurance coverage don’t always cover the expenses when issues arise because of poor upkeep.
Home upkeep typically costs more the longer you put it off. For instance, you might only need to caulk a leaky window right immediately, but if you wait six months and allow water to keep leaking in, you could need to replace the window, drywall or other water damage, which is more expensive. Not repairing leaky rook shingles could cost home owner well over $50 000 in damages. Interlocking full of grass ind weeds could cost about $20 000 to replace.
Minor damage might easily get worse if you neglect to maintain your house. After all, avoiding damage is a major purpose of many maintenance procedures. If you don’t clear your gutters, for instance, water may build up on your roof and cause leaks, which may ultimately cause blocked gutters and roof damage.
Use it as encouragement to finish off your house upkeep. You may either do a lIttle now or a lot later.
DECREASED HOME VALUE
The neglect will come back to bother you if you decide to sell your house. It’s astonishing how a few minor problems, like improperly cared-for landscaping or faucets with mineral deposits, may lower a home’s value. However, if you invest an hour or two in maintenance each month, your house will sell for a reasonable amount. Sadly, there are drawbacks if you keep putting off house maintenance work. Sometimes DIY is all you need but if you are unsure how to do something or are uncomfortable doing it, it would be a good idea to contact your local property maintenance professional.