Maintenance = Money!!
In this disaster of an economy we are all looking for ways to not only save money, but also how to MAKE money. As homeowners, we are all Real Estate investors and should act accordingly in regard to maintaining that investment. Just as you would hope to have full faith and trust in how your board of directors maintains the company representing your shares, you should be giving the same attention deserved to your own personal investment. This attention will always pay off in the long run, proper maintenance of any and all investments is rule #1 for any investor, and as a home owner – that’s what you are!
How often do you see a homeowner whom rarely maintains their home out in the yard cleaning up and have the instant assumption – “they must be selling”. While an enigma to me, it’s a very common occurrence. Notwithstanding that the thought process is on par and intelligent from a home seller prospective; It is somewhat penny smart and dollar stupid. Not for the assumption that you won’t get your “rehab” costs back at closing, but simply for the overall fair market value that has been lowered due to the past neglection of beautification. (yes I made up “neglection”)
It’s the simple theory of “Sum of its parts”. It’s easy to picture a great home in a rotten neighborhood; the value of that home will differ significantly if it were simply sitting on a different lot in a neighborhood of maintained homes, correct? This added value is a non-controllable situation from a homeowner’s perspective; the only controlled factor is the homeowner’s own personal property.
Unfortunately we cannot push a homeowner to maintain their home, what we can do however is set an example. We can maintain our own homes to the best of our ability and hope that our neighbors will follow suit. A community with a higher percentage of maintained homes simply holds a stronger combined fair market value. This is why maintenance = money!! Whether we are selling now or in 30 years, the better we maintain our property, the higher our community’s fair market value will be, resulting in a higher average price per square foot when we are ready to sell!
If there is anything to love about Hurricane’s, for me it’s the way communities and neighbors come together in a time of great need. Neighbors helping neighbors is always a great American feeling. Keep that feeling alive all year long by maintaining your property, not just for you – but for your community! It’s a selfless way to MAKE MORE MONEY!!
