If you just purchased your first starter home or an investment property and plan to eventually sell it, maintaining the home for resale is essential. If you’re not part of a Homeowners’ Association program, you’ll need to take care of all of the maintenance yourself, but it will pay off in the long run.
As it has in many cities, the cost of real estate in Phoenix, for example, has increased by more than 7% over the past year. The market is expected to continue rising by up to 5% next year, as the Home Buying Institute (HBI) reports.
These tips can help you protect your investment to reap the highest possible resale value.
Regularly Check for Termites
Check your home for termites regularly. These tiny creatures can destroy your home’s foundation and wooden structures such as decks or overhangs. Since termites survive only in dark places, you’re most likely find them in your basement.
Make sure there are no gaps in your basement structure and, again, check for them regularly. Use a flashlight to inspect the wood. If there are any signs of them, such as rotting, contact a professional to get the situation under control before it gets worse or spreads to other parts of your home.
Check your gutters regularly for water and debris like leaves. Clean them at least seasonally, seal leaks, and repair any loose or drooping gutters to save the cost of having to replace them and avoid further damage to your roof.
Replacing or repairing an HVAC system, depending on the issue, can cost up $6,000. Save yourself the money by maintaining it and keeping your air filter clean. The filter helps keep it running properly, can save you money on your energy bill, and maintain better air quality in your home.
Keep up your pipes in good shape by avoiding clogs or any other major damage. Don’t use chemical pipe cleaners. Harsh chemicals can damage your pipes, especially in older homes. Avoid putting oils and fats down the kitchen sink. Clean your bathroom sink and bathtub drain regularly too, using a snake if necessary, as backups due to hair are common.
Maintain Your Curb Appeal
Repainting the entire exterior of your home can be very expensive, but it may be necessary to maintain curb appeal, essential when putting your home up for sale. You might be able to avoid that high cost by power-washing the outside of your home and touching up any areas of paint that may have faded or chipped.
Keep your lawn looking great by mowing and watering regularly, pulling weeds, and adding grass seed where necessary. If you live in a drought area, consider landscaping with artificial turf or decorative rock.
Hiring a professional gardener may be worth the cost if you struggle in this area or are limited on time, and it’s often relatively inexpensive too.