A Guide to Taking Care of Deferred Maintenance

Repairing Deferred Maintenance in the HomeDeferred maintenance can make big problems for homeowners. Some deferred maintenance can lead to huge repair bills, others can make selling the home more difficult. Homeowners who want to manage their deferred maintenance can get back on track by making a list of what needs to be done, making repairs one at a time and budgeting carefully. While different than making renovations to appeal to buyers, repairing deferred maintenance can still ensure a home sells for higher than it would have otherwise.

Inspect Your Home, Make a List

Inspecting the home is the first step to managing deferred maintenance. Often homeowners who live with deferred maintenance will become blind to some of the small repairs that need to be made. Going through the home and making a list of everything that needs to be done can give the homeowner a starting point.

Homeowners who aren’t sure what needs to be done can get help by hiring a home inspector. A good home inspector will catch the majority of the deferred maintenance in a home. Once the home inspection is in hand, the homeowner can use it to make a list of all the repairs that need to be made.

Prioritize

Once the list of necessary repairs has been made, it’s time to prioritize projects. Plumbing leaks, a leaky roof, foundation trouble and electrical problems are common examples of high-priority items that must be fixed as soon as possible. Sometimes these repairs are very expensive, but waiting longer to fix them can result in even greater expenses down the road.

If the list of necessary repairs lacks these high-priority items, some homeowners start by making small repairs that require little or no monetary investment. Making the small repairs can help reduce the list quickly. This is an especially smart idea for homeowners who are trying to sell their house, as making small repairs can help stage the property. Once the small repairs have been made and the smaller repairs have also been made, then other items can be completed one at a time.

Budget for Improvements

Budgeting for home improvements can be complicated, especially when there are several expensive repairs to make all at once. Homeowners usually start this process by getting quotes from contractors, or by pricing materials when they’re planning to DIY.

When working with contractors, it’s important to get multiple quotes from licensed, reputable contractors in the area. Getting multiple quotes can help the homeowner to determine the approximate cost of the project. Homeowners must remember that the lowest bid is not always the best bid. Contractors who bid low may do so by purchasing low quality materials or hiring inexperienced help.

When budgeting for a DIY project, homeowners must remember to factor in the cost of tools. Sometimes tools can be very expensive. This needs to be priced at the beginning of the process, so the homeowner can decide whether or not it would be more practical to hire a contractor.

Once the approximate cost has been determined, securing financing is next. Homeowners who have cash to make their repairs can pay for their repairs directly, but homeowners who need to borrow money must put in applications with lenders. Applying for a loan is a lot like looking for a contractor: it’s important to shop around. Looking at multiple lenders can help a homeowner to get the best interest rate. Some big contractors will offer financing for their work, so homeowners working with big name contractors can explore this option when meeting with the contractors.

Get Started Today

Over time, deferred maintenance can cause hundreds or thousands of dollars in damage. Blaine homeowners who get on top of deferred maintenance can avoid expensive repairs in the future. Whether you’re thinking about selling soon or are simply hoping to improve the value of your property, get started on your deferred maintenance today.

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