Global View Commentary

The Dollars and Sense of Home Maintenance

When it comes to homeownership, there's more to it than just paying the mortgage and decorating your living space. One crucial aspect that often gets overlooked is basic home maintenance. Understanding and practicing simple maintenance tasks can go a long way toward saving you money and ensuring your home remains comfortable for years to come. We'll explore how investing a little time and effort into basic home maintenance can significantly impact your finances.
 
6-Jun-15-2023-11-03-46-0293-PM
 
Preventing Costly Repairs
Regular maintenance helps you catch minor issues before they escalate into major problems. Inspecting your home's various systems, such as plumbing, electrical, and HVAC, can reveal potential issues early on. Fixing a leaky faucet, replacing a worn-out seal, or clearing clogged gutters may seem like small tasks, but neglecting them can lead to water damage, mold growth, and expensive repairs down the road. By addressing problems proactively, you can save a substantial amount of money in the long run.

Extending the Lifespan of Home Appliances
Home appliances are essential for modern living, but they can be costly to replace. However, with regular maintenance, you can significantly extend their lifespan. For example, cleaning the coils on your refrigerator, changing the filters in your air conditioner, and descaling your dishwasher can improve their efficiency and prevent premature breakdowns. By taking care of these tasks, you not only save money on replacement costs but also reduce your energy consumption, leading to lower utility bills.

Energy Efficiency and Lower Utility Bills
7-Jun-15-2023-11-03-46-0237-PMSpeaking of utility bills, basic home maintenance can help you achieve energy efficiency and reduce your monthly expenses. Simple tasks like weatherstripping doors and windows, sealing air leaks, and cleaning or replacing air filters can enhance your home's insulation and ventilation. This, in turn, allows your HVAC system to operate more efficiently, reducing your heating and cooling costs. By making energy-conscious choices and maintaining your home properly, you can make a dent in your utility bills over time.

DIY Skills and Cost Savings
Another advantage of knowing basic home maintenance is the ability to tackle minor repairs and projects yourself. While some tasks may require professionals, having basic DIY skills can save you money on labor costs for simple repairs, installations, or upgrades. From painting walls and fixing squeaky hinges to installing light fixtures and unclogging drains, taking a hands-on approach can save you from hiring a professional for every small job. You can find just about any how-to video on YouTube making it easier than ever to learn these skills and become a more self-sufficient homeowner.

Conclusion
Investing time and effort into learning basic home maintenance is a wise decision that can lead to significant cost savings and peace of mind. By preventing costly repairs, extending the lifespan of appliances, achieving energy efficiency, and developing DIY skills, you'll reduce your financial burden and maintain a comfortable and well-functioning home. Embracing the power of home maintenance is an investment in both your property and your financial future.
 
Shane Kozusko

Written by Shane Kozusko

As a Paraplanner, Shane works alongside our Advisors in managing client relationships and special financial planning needs, including retirement transition, education, and estate planning. He joined the Global View team upon graduating from the University of Georgia with a BS in Financial Planning in 2022 and passing the Series 65 Uniform Investment Adviser Law Exam. Prior to attending the University of Georgia, Shane spent five years in the United States Army as an Infantryman with two deployments to Afghanistan. He is currently pursuing his Certified Financial Planner designation.

Are you on track for the future you want?

Schedule a free, no-strings-attached portfolio review today.

Talk With Us