Don Cook

Okay, you just bought a new home and your worries are over, right? Now the ugly hidden truth comes to light -- someone, namely you, is responsible for maintaining the home in order to keep it habitable and sustaining its value. Well, what exactly do you do and how much is it going to cost?

 

My personal experience in the construction industry and as a homeowner does reinforce in my mind some of the axioms that "experts" tout. One of these axioms is that about 1 - 1.5% of your homes value can be expected as an ongoing annual cost to keep your home in good condition. Why? Because most things wear out over time, even though they are well made by respectable manufacturers. Click here for a good look at the lifespan of home components as reported by the National Association of Home Builders.

 

This average cost is predicated on the fact that yours is an average home in your city and that the maintenance issues are not outside of the normal scope, i.e., you are not repairing storm damage or issues relating to vandalism, etc. How much does it cost for a typical project around the house? I think you will find this link helpful in determining whether to hire the work done or do it yourself. It's from ServiceMagic, a web-based resource for home maintenance.

 

In fact, they have a home maintenance plan that is full of good ideas. You can use the format to formulate your own strategy. Whatever path you choose, please remember that when you decide to sell your property in the future, everything you don't do now will discount your selling price accordingly.

 

By paying now rather than later, you get to enjoy the benefits of a nicer home and probably save on major repairs.