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www.JBPRealtyGroup.com
Ongoing Costs of Owning a Home
Planning for Regular Maintenance Costs Can Keep Repair Bills Low
Be sure that in addition to your monthly home mortgage payment (including taxes and home owner's insurance) that you have a budget for maintenance expenses and unforeseen repairs that may be necessary. From roof repairs to caulking around windows and doors, there are plenty of maintenance items to consider when buying a home. Some other ongoing costs to consider may be lawn equipment or future new furniture.
Jason Brown Premier Realty Group suggests budgeting at least one percent of your home purchase price to cover annual maintenance costs. When you consider that not replacing a $2 furnace filter could end up costing you $1,500 or more, it's easy to see why planning for home maintenance is critical.
Here are some basic home maintenance items to consider:
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Check kitchen sink and dishwasher for leaks.
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Clean dust from under and behind refrigerator, including around condenser at back of unit.
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Check bathroom toilets, sinks and showers for signs of leakage. If any grout is cracked, regrout immediately. If caulking around base of any fixture is deteriorated, recaulk immediately.
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Check that all smoke detectors are operational and replace batteries at least twice a year. If smoke detectors are interwired, push one of the test buttons to be sure ALL smoke detectors go off in unison.
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Change furnace filter monthly.
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Check hot water heater for leakage. Drain water heater to remove sediment build up.
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Check the basement for any signs of cracks or leaks.
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Check the basement for any signs of termites.
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Examine the attic for any evidence of roof leakage.
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Visually inspect your roof shingles from the ground level for missing, cracked or curled shingles.
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Clean out all gutters & downspouts by
removing any built up debris. This will ensure that water flow from the roof is not obstructed and that water will flow away from foundation as designed.
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Exterior siding or veneer should be checked for deterioration, warping and wood rot.
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Any painted exterior showing signs of wear should be repainted immediately. Check caulking around exterior window sills and around all windows and doors closely.
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Avoid letting tree limbs, branches or leaves lay near the residence as they attract termites.
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Check for cracks in all exterior concrete and patch/seal as needed.
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Make sure air conditioner is unobstructed by shrubs or trees. Hose the unit off.
These are just a few of the important items that should be checked routinely.
If you would like to receive our full FREE HOME MAINTENANCE CHECK LIST, please go the bottom of this page!
Considering A Major Home Improvement?
As a rule of thumb, on average a homeowner can expect to recoup around 80% of their improvement on items such as a new roof, appliances, exterior decking, landscaping and windows and kitchen and bathroom improvements. Remember to avoid going overboard. Granite kitchen countertops in a $100,000 home would be a nice touch, but don't expect to recoup most of your money on this type of investment. The reason? Because 99% of the competition in this price range doesn't have it and buyers in the price range don't expect it.
Need A Professional To Do The Maintenance or Improvement Job For You?
Here are some tips to keep in mind:
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Get at least three bids on the maintenance work or improvements.
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Get company referrals from a source you trust.
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Be sure you are not comparing apples to oranges. Get the first bid details and be sure your following bids are for the same exact work to be performed.
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Ask if the bid includes sales taxes.
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Ask if the bid includes the costs of any related city work permits.
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Request references from the company you are about to hire.
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Specify in the contract that you will pay for the work being completed in stages. One option is paying 1/4 up front, another 1/4 when the job is half done, and the remaining 1/2 at completion of the job (after any necessary inspections are completed).
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