Renting To Buying: How First-time Homeowners Can Maintain A Real Estate Investment

Taking the leap from renting real estate to buying a home is a lot like making the move from dating to getting married. The time, quality, and financial commitment increase ten-fold. First-time homebuyers are often shocked at the amount of time, energy, and money that goes into maintaining their first real estate investment.

So if you are making your first real estate purchase, you need to know this; buying and renting real estate are completely different experiences. You need to know what sort of routine home maintenance you will need to do, and how it will affect the value and condition of your home. Renting is a little like living at home with your parents. Tasks are taken care of for you. You might not even know that they exist. But a real estate home investment demands your attention. Or you will end up spending a lot of time and money on damage and repairs.

Structural Integrity of Your Real Estate Home Investment

Some basic maintenance tasks you will inherit as a homeowner include; cleaning out gutters, keeping the roof in good shape, yard care, and preventing mildew, mold, and rot. All these tasks will preserve the structural integrity of your new home. For instance, keep grass cut low near your house to prevent wood damaging insects, like termites, from being attracted to your real estate property. Regularly cleaned gutters prevent huge water damage. And basic trimming of trees can stop wild branches from crashing into your house in a storm. While your landlord may have handled these issues before- they are all yours once you purchase your home.

Safety Concerns of Real Estate Homeowners

Monthly checks on smoke alarms, fire detectors, and extinguishers are imperative to a homeowner. Your entire real estate investment, or worse your loved ones, are at risk if you forget to replace the batteries in that fire detector. Other safety factors include vacuuming air vents, cleaning out the clothes dryer hose and vent, and insuring that all appliances are in good working order. Faulty appliances cause water damage, fires, and loss of personal possessions, lives, and real estate investments each year.

According the University of North Carolina’s Injury Prevention Research Center, about 15,000 people are injured every year in fires caused by clothes dryers. So empty that lint trap and don’t leave it running when you’re not home.

Money and Health Concerns of Real Estate Homeowners

Your other jobs as a homeowner may include adding salt to a tank to soften your water, or learning the specifics of your well, septic system or sump pump. You will need to know where fuse boxes and circuit breakers are and how to access them. And you will want to pay attention to things like caulking, weather stripping and your heating and cooling units. Regular maintenance of these items will save you thousands of dollars in energy bills, damage, repairs and replacements. Real estate is considered an investment of both time and money. A proactive approach to home maintenance will insure that your real estate investment pays off, rather than costs you dearly.

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