The average homeowner spends nine years in their home. A lot can happen to a home in nine years, so it's important to be diligent about home maintenance.
Real estate agents Andre and Kelli Kocher say homeowners should spend 1% of their home's value on maintenance each year. If they ignore their responsibilities, they could end up with a home that needs thousands of dollars in repairs when it's time to sell. Simple and Specific Many important maintenance projects cost little more than the time it takes to get them done. Here are some at the top of the Kochers' list: - Central heat and air unit: Change air filters regularly to prolong the life of the unit and lower utility bills.
- Windows and doors: Repair caulking; replace damaged or rotting wood; keep paint looking fresh
- Fencing: Replace missing boards or pickets; refresh paint or stain
- Hot water heater: Drain once a year.
Larger maintenance challenges can vary by region. For example, Jeff Payne, a real estate agent in Florida, says homeowners in his state should take steps to protect their homes from termites, cracks in stucco walls and roof damage.
"These issues can cost thousands of dollars to repair and can kill a sale when a home inspector finds the damage," Jeff said.
Your real estate agent is a great source of information on how to properly maintain your home so you get a better price when you're ready to move on. "We always talk to new homeowners about things they can do over the next several years to help increase value," Kelli said. The Easy Way Out? Andre and Kelli say putting your home on the market in "as-is" condition is usually a bad idea. "We've found that a buyer's estimation of repairs is three times the actual amount to make the repairs," Andre said. "Most buyers will simply pass the house up."
The Kochers recently worked with a homeowner who spent $12,000 to make the repairs and upgrades they recommended before she put her home up for sale. "Her home sold in one day," Kelli told us. "Not only did she get her $12,000 back, she got an additional $10,000!" | Talk with a real estate agent to find out what you can do to get your home sold fast and for the best price. Dave's real estate Endorsed Local Providers (ELPs) are experts in your area you can trust to give you great advice and service.
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