Maintain Your Home So It Can Retain Value
Maintain Your Home So It Can Retain Value
Buying a new construction home can reduce the hassle and expense of home repairs, but all homes need maintenance to keep them in good shape, help them hold or improve their market value over time, and to avoid major repairs.
Repairs vs. Maintenance: What’s the Difference?
Before we dive in, an important distinction: repairs and maintenance are often spoken of together as if they were a package deal, but in fact, the two aren’t the same.
- Repairs fix broken things.
- Maintenance prevents breakdowns before they happen.
Examples of Home Maintenance and Repairs
| Part of the Home | Maintenance | Repair |
|---|---|---|
| Rain Gutters | Remove dirt and debris | Mend or replace |
| Landscaping | Remove weeds, prune shrubs/trees, sweep walkways, adjust sprinkler heads | Replace dead plants and trees, repair broken walkways and sprinkler heads |
| Pests | Exterminate termites | Replace and paint wood damaged by termites |
| HVAC System | Replace filters | Replace furnace |
| Refrigerator | Vacuum coils, replace water filter | Replace bad compressor |
| Hot Water Tank | Flush tank to remove sediment | Replace leaking tank |
Improvements: A Different Category
A fourth column could be added for improvements, a completely different category from repairs and maintenance. Instead of being problem-focused, improvements involve remodeling or upgrading a home’s structure, components, or appliances. For example:
- Repair: Replacing a broken refrigerator.
- Improvement: Upgrading to a refrigerator with a trendier color or layout.
Budgeting Tips
“Extensive home repair projects can be costly, and it’s important that homeowners don’t spend their entire maintenance budget on elective or cosmetic upgrades,” says Porch, an online marketplace for homeowners.
Understanding Warranties
New Homes
New homes may be covered by a builder’s warranty, which typically covers repairs at no out-of-pocket cost to the homeowner.
Older Homes
Older homes might have a home warranty plan, often purchased by sellers at closing. These plans usually involve service fees and annual renewals.
Note: Neither warranty type covers maintenance costs—those are always the homeowner’s responsibility.
What Affects Maintenance Costs in Older Homes?
- Construction quality and complexity of components
- Remodeling history
- Home size and architectural style
- Climate and seasonal demands
“In the spring, inspect the basement for water damage before the rainy season,” advises Porch. “In summer, check air conditioning filters to avoid outages.”
New Home Maintenance Tips
Even new construction homes require upkeep:
- Consult the builder for maintenance schedules.
- Review appliance manuals for maintenance requirements.
Bottom Line: Maintenance Matters
Neglecting maintenance can shorten your home’s component lifespan, lower resale value, and lead to costly repairs. While chores like gutter cleaning may seem tedious, planning ahead—and hiring professionals when needed—can save time and money.
