Long Term Impacts

“An ounce of prevention is worth a pound of cure.” – Benjamin Franklin

We often don’t think about the health of our homes and long term impact of routine maintenance, but neglecting or delaying home maintenance can have a dramatic impact if we don’t keep on top of it.  There are four main areas to consider:

  • The Big Investment
    • Based on a study from University of Connecticut they “find that for the typical homeowner, maintenance adds roughly 1 percent real per year to the value of the home…”.  Additionally the study found that “maintenance cost money, so it probably best to say that the net effect of regular maintenance is to slow the rate of depreciation.”  “Findings indicate that in the absence of maintenance, housing depreciates at a real annual rate of roughly 3.0 percent for the typical (median) home.”[1]
      • $400,000 house X 3% = $12,000 depreciation/year
    • Additionally, maintenance items can turn into costly major repairs such as not properly caulking to prevent water damage and mold.
  • Make Your Home Safe[2]
    • 15,600 dryer fires occur each year resulting in property damage with the leading cause lack of maintenance.
    • 15,260 injuries and 2,660 deaths annually due to failure or problems with smoke alarms, sprinklers and fire extinguishers.
    • 38,300 reported home electrical fires including 120 deaths and 390 injuries associated with electrical wiring, circuit breakers, fuses and meters.
    • 49,200 heating equipment related fires.
  • Value Through Curb Appeal
    • It’s estimated that a house the shows in worn condition can lose 10% of it’s value.[3]
    • You can’t put a specific value on the contentment and pride one feels in a well maintained home, but there is an implied value.
  • What is your time worth?
    • This answer is different for everyone, but with your busy life it’s sometimes nice to have someone else taking care of the details and free up some time for the better things in life.
    • Our goal is to provide a convenient and reliable service you don’t need to worry about.

[1]University of Connecticut and SyracuseUniversity study from 2006 – Depreciation of Housing Capital, Maintenance, and House Price Inflation: Estimates from a Repeat Sales Model.

[2]US Consumer Product Safety Commission; National Fire Protection Association 2008.

[3] Mack Strickland professional appraiser and real-estate agent – http://www.houselogic.com/home-advice/maintenance-repair/value-home-maintenance/

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