The easiest way to increase the value of your home (whether for marketing, refinancing or just plain old peace-of-mind purposes) is to simply keep it well maintained?
According to Forbes Magazine www.forbesmagazine.com the cost of making a repair can double during price negotiations with a prospective buyer, compared to the cost of that same repair had it been attended to beforehand. Why is this? The prospective buyer naturally assumes that there will be more to the repair that meets the eye and instructs the person providing the costs for negotiation purposes to price for the worse. Usually the vendor agrees to the repair or a price adjustment just to save the deal.
Professional real estate appraisers www.oaaic.on.ca agree that a home that has been well maintained certainly appraises at a higher value than one with a noisy, leaky oil furnace, water lines that have several hardware store “emergency” patches, and electrical outlets with missing/broken covers.
Plain old peace of mind: one of our callers on the weekend had the hydro pole at their house come down during the monsoon rains in our area yesterday (Sunday). They assumed that this pole (installed during the rural electricification program in the 1930’s) was the responsibility of Hydro One www.hydroone.com to maintain, repair, or replace. They found out Sunday that this is not the case and the power would not be turned back on until a private contractor replaced the pole and the Electrical Safety Authority www.esasafe.com inspected the replacement and issued a connection authorization. This bit of information really could not have come at a worse time as one of the occupants of the home relied on electricity to provide oxygen. A routine maintenance plan would have certainly earmarked the pole for replacement at an arranged time with zero stress and considerably less cost.
We Shock Doctors have a routine maintenance plan (Doc’s Club) for your electrical system and reputable plumbing and HVAC contractors do as well. Silas Home Service Contractors www.showupcleanup.com offers a whole home plan as well. These plans pay for themselves sometimes just with peace of mind.
(Thanks go to friends of the Shock Doctor, John & Erna Collins www.teamcollins.ca Coldwell Banker Realtors for the Forbes and Appraisal information)