The goal in any investment is to see the value increase. The same applies to your largest investment, your home. Unless the economy or some other phenomenon negatively affects the market, you can generally expect an increase in your home’s value.
Whether you decide to sell your home or just build the equity, you want to protect the value of your home. Let’s explore seven ways to preserve the value of your home.
Take proactive measures against termites.
Termites can cost thousands of dollars’ worth of damage to your home. The worst part about termites is that once you notice their presence, they have already been actively at work damaging your house. They’re also tough to spot, so it’s usually best to call in a professional who knows what to look for.
The best course of action is to be proactive and have your home treated for termites before they can damage your home. If you suspect termites are in your home, you should contact a company like Moxie Pest Control that has the expertise and licensing to address the situation.
Keep up on routine maintenance.
Once you purchase a home, the next thing you should do is create a home maintenance schedule. Make a list of all the items that need to be done and determine if it should be completed on an annual, monthly, or weekly basis. Maintaining a maintenance schedule will help ensure everything is clean and in good working order. If you keep up with the maintenance, it will keep you from having expensive repair bills in the future.
Plan on necessary updates every few years
Don’t be surprised if the decorating style and colors you chose last year are outdated this year. Updating your home’s interior decoration can restore that fresh, vibrant feeling you had when you first moved into your home. You should also be familiar with the life expectancy of your heating, air conditioning, and ventilation system (HVAC), appliances, and other big-ticket items.
From the moment you move into your new home, you should consider including the replacement cost of these items in your budget. To stay current, focus on updating something every few years. Doing so will keep you from having to replace everything all at one time, especially if you decide to sell.
Maintain curb appeal
Another way to protect the value of your home is the maintain curb appeal. The way your home looks to others affects the value, although they don’t know anything about the home’s condition. You can do easy things like painting the exterior every few years or investing and replacing the landscape.
Reseal exterior wood features every year
The purpose of the exterior wood on your home is to insulate and protect it from the elements. Over time the wood will become damaged and worn after years of exposure to the elements. The protective properties of the wood exterior will begin to deteriorate. When this happens, the exterior wood is no longer providing your home with the needed protection. Because of this, you should reseal this exterior wood on your home every few years to keep it looking brand new.
Check the concrete and asphalt for cracks every spring
If you have a concrete driveway or a patio that has cracks in it, it will affect the value of your home. You should check your driveway for cracks and use weed killer to keep plants from growing in the cracks will be concrete. Weeds growing in the cracks in your concrete will cause the concrete to break oh buckle, and it will need replacing.
Broken an uneven pavement in front of your home will not be attractive to buyers. If people see several maintenance concerns outside the house, they will assume several items inside the home will need repairing.
Get the right insurance coverage.
If you live in a flood plain or an area that’s at risk for earthquakes, it’s essential to get the right insurance coverage. Hopefully, a natural disaster won’t happen, and you’ll never need it, but if it does, an insurance policy will provide the funds you need to rebuild and repair your home.
Preserving the value of your home
The methods above are some things you can consider doing to help protect the value of your home. Depending on your situation, you may not need to do all of them. A real estate professional can assist you in determining the current value of your home.