How to Assess the Maintenance Costs of a Home

Many of the factors that affect the amount it will cost to maintain a home can be discovered before buying a property. 

Here is a breakdown of what these factors are, and how you can diagnose whether a house will be relatively cheap or expensive to maintain before you buy.

Checking the Property’s Title for Past Structural Problems

One of the better ways of attempting to accurately predict any future maintenance costs of a new home is by looking into its history. Discovering how regular maintenance work has been carried out in the past will go a long way in helping you to uncover potential maintenance issues that may arise in the future. You can do this by looking at the title of a property.

The title of a property will show the major maintenance issues that it may have had in the past. 

If the home has had any maintenance work carried out that would have required a permit, then this would have had to have been reported on its title. This may include any foundational or structural fixes as well as any electrical or plumbing work that may have been done.

A title will also reveal other factors such as whether the building has certain appliances or not, or even what type of material was used for the floors or the roofing. The poorer or older the materials used could indicate their expectancy, which may result in higher maintenance costs in the future.

Roofing, for example, can be relatively expensive to replace. So, you would need the materials used to be highly durable. If the roof has asphalt shingles, then it would be expected to last around 15-30 years. However, if you discover that the roof was installed 25 years ago then it’s approaching the end of its expected lifespan. This means you could be hit with an expensive maintenance bill just a few short years after you purchase the building.

It would be more beneficial to select a home that features slate, metal, or plastic polymer roofing, especially if you're searching for a better-insulated property that is also more energy-efficient.

The title of a property will also reveal its age. There is a misunderstanding that the newer the property will result in much lower maintenance costs which is not always the case. A house with a 20-year history of little to no significant structural issues is a much better sign that it’ll be cheaper to maintain compared to one that is just a few years old.

What You Should Check During a House Viewing

Many people looking to buy a home will look initially at the aesthetic features of the house. However, you must take a deeper look into the property if you are going to properly ascertain whether or not this is a home that will last.

Check the Floors

 When you’re walking around the building, make sure you pay close attention to the flooring. Are the floors dipping in certain areas around the home, particularly near the bathroom? If so this may indicate there are certain plumbing issues or water damage which may need to be addressed.

Check the Basement

 If your property has a basement then you will need to look out for water. If you see water in the basement of a property yet the weather recently has been particularly dry then you may have a problem.

Check the Windows

 When you’re looking around the property try opening and closing the windows in each of the rooms. Ensure they’re lockable and see if you can hear outside noise. Windows are often replaced with cheaper alternatives that may not be suitable.

Check the Roof

 Find out when the roof was installed. The title of a property will hopefully have all these details but it’s important to ensure you are not likely to have to replace the roof any time soon.

Check the Trees

 If there are large trees on the property, then it is worth keeping in mind that they may come with their maintenance costs in the future. Falling leaves may cause drain or gutter blockages, and strong winds could cause unpredictable damage. Also, as they grow it may be necessary to hire a professional to maintain them.

Check the Electrical System

 Exposed wiring around the property is a red flag. For second or third viewings it may be necessary to bring an electrical expert with you to double-check the electrical panel and wiring.

Once you’re certain that this is the property for you it is well worth taking a look at the site itself. Does it have any permit issues or open violations? Make sure you check with all local departments, and even neighbors, to guarantee that the building and surrounding property have no problematic history.

You wouldn't be expected to recognize all potential pitfalls of buying a new home that may require maintenance so it would be beneficial to go to viewings with an expert in tow.

How Well is the Property Protected from Natural Disasters?

When estimating the potential maintenance costs of a home, you should also look at the

climate and potential for natural disasters in and around the property’s location. Just how effective is the property designed to be resistant to these natural disasters and is the preventative design in proportion to the likelihood of these disasters occurring?

Wildfires

If you live in an area surrounded by forest or grassland your property may be prone to wildfire. The building itself should have a defensible zone around the home to protect it and would ideally be built or fitted with several fire-resistant materials. Ideally, an area of at least 30 feet around the home would help protect it better from wildfires. 

The area should also be completely free of any trees, grass, or leaves, which could make the wildfire worse. Heat-resistant curtains and wire mesh placed at entry points to your home would help stop wildfire embers blowing into the house and protect it from surrounding heat.

High Winds

If there is a history of high winds, hurricanes, or tropical storms in the area where you are looking to live it is crucial to make sure that areas around the outside of your property are secured. Garage doors should be able to withstand strong winds to avoid the wind blowing through your home. Even porch areas and carports should be properly secured to help circumvent potential damages.

Flooding

If the local area has a history of flooding, then it’s important to select a property that doesn’t have a basement and is ideally built on raised foundations as well as including foundation vents. Other preventative measures such as storing sandbags and ensuring nearby storm drains are clear from debris will help prevent flooding and further damage.

Seasonal Weather

Areas that experience hot summers and significant rainy seasons should be investigated in more detail in case there is any history of foundation issues. These conditions make settling more common and over time a new home may slowly sink into the ground due to the ever-changing climate and other factors of soil composition. 

Humidity

Houses in humid areas need to be well insulated and ventilated otherwise it could lead to moisture making its way into your home and causing long-lasting damage. Dampness and condensation trapped in a home could also lead to more health-orientated problems such as mold growing around your property.

Dealing with natural disasters can be a costly affair if the right measures of preventative maintenance are not carried out. You should be willing to challenge your realtor to talk about any historic flooding or other problems due to natural disasters.

Conclusion

There may be a lot to think about before finding your ideal home but with the right advice, expert opinion, and ensuring you have carried out proper due diligence on a property you’ll more than help cover potential financial risk. It is important to have a proper home inspection before you buy.

Does the home have any historic structural issues? Does it feature the right kind of preventative measures to deal with natural or seasonal problems? Finding out all about a property’s history will give you better insight into its future.

If you are interested in purchasing a home, speak to the advisors at Secure One Capital Corporation who can help you with financing options for your new home.

This guest blog was contributed by Volodymyr Barabakh, the project director of Fortress Home construction company.