How Much Value Does a Regular Maintenance Add To Your Home?

There is a significant difference between a valued and a non-valued house when it comes to house valuation. Research shows that there exists a significant percentage increase of around 96% between the lowest and highest valuation for the same house. This is a great value and can determine whether or not your house will be bought quickly. In this article, we shall focus on how much value regular house maintenance adds to your residential home. Read along!

The Statistics

Without home maintenance, your home is likely to lose approximately 10% of its value. A house with worn-out conditions portrays the lack of preventative maintenance. It is this that decreases the appraised value of a home and translates into a $20,000 or $15,000 adjustment. Since 90% of property buyers shop online, what they see first is the front of an advertised property. The first impression that they get is what will last in their mind. Therefore, you need to make the most out of the opportunity that you have. Clean up the clutter that appears at the entrance of your home and increase your chances of selling your house fast.

How Does Regular Maintenance Increase Value?

You do not want the selling price of your property to depress, do you? One of the simple property-selling principles that every home-seller should know is that “The first impression determines the value that the buyer will want the house to be sold to him/her.” Typically, house damages are just one of the signs of neglected maintenance. Without regular upkeep, overall property values are adversely affected. Routine house maintenance reduces any neglected upkeep that may turn to costly repairs. That is why it is essential to do something on the chipped walls, sagging gutters, fading paint, and worn-out carpeting faces that may be an uphill battle for your sale. Not only do these act as a disadvantage, but they also turn off the potential buyers.

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Lengthening the Economic Age

The economic age of a property helps appraisers to calculate its depreciation rate. If a house is well-maintained, it gains a healthy economic age that makes it depreciate at a slower rate than the house that has not been well-maintained. This, in turn, helps to preserve its value. For most professional appraisers, constant house maintenance does not necessarily translate to a higher property valuation. However, the diligence you put in maintaining your property, together with other home improvement techniques like upgrades, all work to increase the worth of a property.

Estimating the Value of Maintenance

Rarely will you find appraisers assigning a positive value to homes that have received diligent maintenance. This is because maintenance does not control the little problems from enlarging. Experts suggest that proper maintenance only increases the property’s value by 1% per annum. If you are a seller, you have to put lots of effort into your work to see positive results. It is worth noting that the older the house gets, the much work it will need. Your ongoing maintenance cost can offset this 1% valuation gain. In simpler words, the net effect of your regular maintenance slows the depreciation rate.

Proactive House Maintenance Strategies

The most proactive house maintenance strategies that will increase the value of your house include:

● Prevent the small problems from becoming larger – take the initiative with routine inspections. You can set up a schedule that will help you to carry out the maintenance process faithfully. If you are not knowledgeable about what should be done, you can hire a professional inspector to point out the potential problems that will need quick fixes.
● Keep Track – buy a notebook from where you will be writing all your upgrades. The notebook acts as a maintenance record that will prove that you did repair and replacement in the house. This, in turn, makes the buyer not to doubt that you are a responsible homeowner.

Conclusion

If you thought that home maintenance could be avoided, you are wrong this time! To sell house fast, you need proactive maintenance practices that will preserve the value of your property. If your property is your greatest investment, maintaining it is a must-do activity!