Homeownership and the Three M's
Homes are valuable assets and must be maintained so they function properly, are safe, enjoyable and hold their value. Attention to maintenance, minimizing expenses and managing debt & risk will protect your investment. Maintenance It is interesting that people understand the necessity to maintain a car and regularly have the car inspected, repaired and do regular maintenance. Even though a house could be worth many times more than a car, homeowners regularly neglect what should be routine maintenance. Failure to maintain a home properly adversely affects the value. Many times, buyers will discount the price they are willing to pay for a home more than the actual cost of the repair or expenditure. A home in good condition instills confidence while a home in less than good condition generates concern about unknown items that may also need repair. HVAC systems, as well as appliances, run more efficiently when they are maintained which will result in lower util