Attrition of all properties is inevitable. As a homeowner, it is essential that you maintain and care for your property, especially if you plan to rent or sell it in the future. If the house is in a dilapidated condition, you can easily lose more than 10-20% (this can be tens of thousands or millions of rupees) of the property value on resale.
Just like your other assets (cars, two-wheelers), you need to invest in regular and preventive maintenance of your home to avoid costly repairs later on. Here in this post, we give you the top reasons why spending on routine maintenance offers you immense value in the long run.
What is home maintenance?
Generally speaking, home maintenance includes all jobs that involve the advantages of regular home maintenance. It is about maintaining the structure, fittings,
and other fixtures to keep your home safe, secure, and aesthetically pleasing.
Types of home maintenance:
It can be divided into:
Regular – These are home maintenance jobs that you need to take care of at regular intervals, say daily, weekly, or monthly.
Preventive – This is one of the most overlooked types of home maintenance. This includes solving problems before they occur to prevent emergencies later.
Corrective – involves solving problems as they arise. This is one of the most expensive types of home maintenance and can be avoided with regular and preventative maintenance.
Beautification – This involves performing tasks to improve the visual appeal of your home.
Seasonal – These are maintenance jobs that occur once in a while like spring cleaning, preparing your home for monsoon, and so on.
Here are the reasons why you should make home care and maintenance a top priority.
Avoid expensive last-minute repairs when selling or renting a property
When you invest time and money in regular maintenance of your property, you minimize the chance that things will go wrong unexpectedly. This is a huge relief for you if you are looking to sell or rent a property. Your home is in top condition with no major structural issues and can be sold/rented with a few quick cosmetic changes.
It’s easier and cheaper to fix things before they break or stop working
Whether it’s a leaky faucet, an energy-guzzling air conditioner, or cracks in a wall—whether the problem is big or small—home repairs and renovations are expensive and time-consuming. Fixing a repair at home as soon as it happens is cheaper than fixing it at a later stage.
Save money in the long run
With regular home maintenance, you spend a fixed amount on regular maintenance of your property – usually monthly. This will help you avoid extensive and expensive repairs while ensuring your home is in perfect condition. This will save you money in the long run because you don’t have to deal with unexpected and emergency repairs and renovations.
Buyers/renters prefer move-in ready homes
Buyers and renters often prefer move-in ready homes that do not require extensive work. They are looking for properties that have a faster time frame to settle. According to data released by PropTiger, the number of ready-to-move-in properties sold increased from FY2017 to FY2018. On the contrary, the number of sold properties under construction fell in the same period. These figures were collected from property sales nationwide including Noida, Yamuna Expressway, Mumbai, Thane, Bhiwadi, Sohna, Dahruhera, and other popular metros.
As you can see, recent trends among Indian buyers reveal that they are more interested in old, well-maintained projects than newly launched underbuilt homes.
Improve the visual appeal of your property
Regular maintenance can significantly increase the visual appeal of your property. For example, painting the interiors and exteriors of your home once every 2-3 years will give your home a fresh and vibrant look that will help it stand out from other similar properties in the area. In addition, with regular maintenance, you can eliminate visual defects of your property and help it achieve better resale values.
Improve your home security
Another huge benefit of regular maintenance is that it increases the security of your property. Regular maintenance will ensure no major structural damage to your home.
One of the essential tasks on home maintenance checklists, for example, is replacing faulty or broken lights in and around the house. With the right lighting inside and outside your home, you’ll avoid accidental falls while keeping vandals away. This greatly reduces the likelihood of accidents in and around your home, which in turn increases the market value of your property.
Enjoy higher home occupancy rates
Homes in a well-maintained community have higher occupancy rates than those neglected over the years. Well-maintained communities see more residents participating in outdoor activities and socializing with other neighbors.
By investing in maintenance, you ensure that your property is part of a dynamic neighborhood. This means you don’t have to search high and low for a buyer/landlord when it’s time to put your home on the market.
Enjoy peace of mind
Your home is a valuable asset. By investing in properties that come with regular maintenance, you know that everything is always in order with your property.
In addition, builders who take responsibility for maintaining the home after the sale will likely use high-quality building materials initially. This is because, from the builder’s point of view, using high-quality construction techniques and materials avoids higher maintenance costs.
This is certainly a huge bonus for you as you are assured of the best quality building materials for your home and you can rest easy knowing that you are interested in maintaining the property in the long run. It’s one less thing to worry about.
Also Read:- Top 10 Best Construction Companies In Lucknow
Above all, get the selling price you ask for
When negotiating real estate prices, it is very often that buyers/landlords will point out the property’s defects to reduce the selling price. With a well-maintained property, you give the buyer no bargaining power, helping you get the initial sales price you offered.
Increase the value of your property with regular maintenance
With regular maintenance, you can feel safer and happier that every single part of your home has been handled correctly and with proper care. Most of all, you know that you are taking the right steps towards your property’s long-term appreciation and value. Always go for a self-maintenance builder, this one small step will add peace of mind and a worry-free life.
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