Key Maintenance Plan - Tip #15

June 18, 2018

 

How Much Value Does Regular Maintenance Add to Your Home (sourced various websites):

 

 

1. If you think home maintenance is costly and avoidable, remember the age-old advice of Benjamin Franklin: “An ounce of prevention is worth a pound of cure.”  The fact is, proactive maintenance is essential to preserving the value of your home – without it, your home could lose 10% of its value.  Regular, routine maintenance enhances curb appeal, ensures safety, and prevents neglected upkeep from turning into costly major repairs.

 

2. Good maintenance does affect a property’s economic age – the number of years that a house is expected to survive.  Economic age is a key factor in helping appraisers determine depreciation – the rate at which a house is losing value.  A well-maintained house with a long, healthy economic age depreciates at a much slower rate than a poorly maintained house, helping to preserve value.

 

3. A study by researchers at the University of Connecticut and Syracuse University suggests that maintenance actually increases the value of a house by about 1% each year.  So, in essence preventative maintenance actually makes you money.

 

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