The Real Estate Browser Volume 9, Issue 10 | Page 19

20 — Say you saw it in The Real Estate Browser of Lynchburg — Volume 9 Number 9
www.LynchburgRealEstateBrowser.com
How Much Value Does Regular
Maintenance Add to Your Home?
prevented by a $4 tube
of caulk and a half
hour of your time.”
Maintenance
affects property value
Outright damage to
your house is just one
of the consequences
of neglected mainte-
nance. Without regular
upkeep, overall prop-
erty values are affected.
If you think home maintenance is an unavoidable
series of weekend-eating chores, remember the age-old
advice of Benjamin Franklin: “An ounce of preven-
tion is worth a pound of cure.” The fact is, proactive
maintenance is essential to preserving the value of
your home—without it, your home could lose 10% of
its value. Regular, routine maintenance enhances curb
appeal, ensures safety, and prevents neglected upkeep
from turning into costly major repairs.
“It’s the little things that tend to trip up people,”
says Frank Lesh, former president of the American
Society of Home Inspectors and owner of Home Sweet
Home Inspection Co. in Chicago. “Some cracked caulk
around the windows, or maybe a furnace filter that
hasn’t been changed in awhile. It may not seem like
much, but behind that caulk, water could get into your
sheathing, causing mold and rot. Before you know it,
you’re looking at a $5,000 repair that could have been
“If a house is in
worn condition and
shows a lack of pre-
ventative maintenance,
the property could
easily lose 10% of its
appraised value,” says
Mack Strickland, a professional appraiser and real
estate agent in Chester, Va. “That could translate into a
$15,000 or $20,000 adjustment.”
In addition, a house with chipped, fading paint,
sagging gutters, and worn carpeting faces an uphill
battle when it comes time to sell. Not only is it at a
disadvantage in comparison with other similar homes
that might be for sale in the neighborhood, but a shag-
gy appearance is bound to turn off prospective buyers
and depress the selling price.
“It’s simple marketing principles,” says Strickland.
“First impressions mean a lot to price support.”
Prolonging economic age
To a professional appraiser, diligent maintenance
doesn’t translate into higher property valuations the
way that improvements, upgrades, and appreciation