When purchasing a home, it’s important to consider the total cost of operating your home. That means more than just your mortgage and utility payments. A survey by bankrate.com found, on average, homeowners across the country pay $2,000 annually on household services…landscaping, housekeeping, pool services, HOA fees, insurance, trash and recycling fees, and home security systems, just to name a few. Therefore, it’s important to find ways to keep your home maintenance and repair costs to a minimum. Here are our 5 preventative maintenance tips to help you keep your money in your wallet.
1. Complete an exterior self-home inspection. According to homelogic.com, these tips could help you avoid expensive repairs. We recommend taking a walk around your property, twice a year to look for the following:
- Cracks in the exterior foundation or basement foundation. Hairline cracks are fairly normal. However, they should not be ignored because they can be entrance ways for moisture that could lead to structural problems if not repaired. The good news is they can easily be fixed with a sealing compound. If you notice cracks larger than an 1/8 of an inch wide, it could mean your foundation is settling unevenly. Call a structural engineer for a professional recommendation on how to repair it. You many even consider getting two estimates. The sooner you take care of this repair, the better for your home, your peace of mind, and your wallet.
- Water entering your home. Ensure soil grading properly slopes away from your foundation and the downspout extensions reach at least 5 feet away from your home. When downspouts feed water next to your foundation you may experience water in your basement. Don’t forget to clean your gutters to remove leaves and debris that can clog them and cause overflows which could damage your siding and foundation.
- Roof damage. Check for damaged or missing shingles, holes and rust spots on flashing. Repair them quickly to avoid leaks and further damage. Trim branches away from your roof. Not only can the branches cause damage during severe weather, but they are “critter bridges” to your home. These repairs will be a much less expensive option than an exterminating service.
2. HVAC Maintenance. Dirty filters affect heating and cooling efficiency by making your unit work harder. Replace them every three to four months. It’s also a good idea to spend a small amount on annual professional cleaning and tune-up to avoid larger costs. Signing a contract for an annual inspection lowers your cost per visit and it guarantees you will have the maintenance work done on a regular schedule.
3. Share tools. Investing in the right tool for every home maintenance job can become expensive. Ask your neighbors if they have the tool you need, especially for larger items such as ladders, chainsaws, tree pruning extenders, etc. Just be sure to reciprocate when they are in need. Some communities also offer shared tool sheds. Find one near you here. Arlington County has a wonderful tool lending library. More information is available at: The Shed: Garden Tool Lending Library
4. Read the manual. Before calling a professional, check the manual or review online forums or the manufacturers’ websites. You will find an abundance of helpful instructions for fixing common problems yourself. If you don’t have the original manual, you can often find them online with a simple search, or by using this handy website.
5. Create a savings account for unexpected home maintenance expenses. HGTV recently recommended the 1% rule. Set aside 1 percent of your home’s purchase price each year. You can make one deposit or spread it out over the year in monthly deposits.
Life has its surprises, and a home maintenance emergency can happen. By following these tips, you will feel more confident your home maintenance expenses will be under control. More importantly, you’ll preserve the value of your home while enjoying it for many years to come.
If you’re considering buying, selling, or investing within the Arlington market, I’d be happy to schedule a time to meet for a free, no obligation consultation. Contact me at [email protected] or 703-798-1803.
