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Responsible home ownership: how to take care of your investment

By Andrew Bell

Whether you are a first-time homeowner or a seasoned property investor, it's important to maintain your investment. A house may be one of the biggest purchases most people make in their lifetime, so it's worth knowing how to keep it in top condition.

There are many components that new owners may be unaware of, which can be good to know before a costly issue arises. Here are some of the most important ways to become a more responsible homeowner. Let's get started!

Know your home

For a homeowner, it's important to know the history of the house. Here are some important questions to know about the house before buying that can be helpful:

  • When the house was built: With this in mind, you can have a better understanding of when to make updates and do maintenance tasks.
  • Last known updates: You should know when the last time certain maintenance projects were completed, which is especially important for older homes that may need more maintenance.
  • Local weather: If you aren't from the area, your new location can require different kinds of home maintenance because of the climate. For example, a house near the beach would need different care than a house in the desert.

Keeping these things in mind can help you prepare for the future, and not get caught off guard by surprise maintenance costs.

Yearly caretaking

Depending on your home's age, there are some maintenance components that all homeowners should perform every few years to keep the house in good condition. Here are some of the most important ways to take care of your investment:

HVAC: This could mean cleaning clogged filters so that the system works more efficiently and safely. 
Paint: Depending on the environment, your house could need a new coat of paint. You should wash the outside every year to maintain the existing paint.
Moisture: Mold and water damage can be extremely harmful to the integrity of the house. Check crawlspaces and attics for moisture to avoid water damage. 
Furnace cleaning: Cleaning the furnace is important for optimal operation and to avoid the dangerous side effects of malfunctioning equipment, which may include carbon monoxide emissions.
Chimney inspection: Hire a professional to clean out the chimney and perform a necessary inspection. This can prevent fire hazards and carbon monoxide poisoning.

While the average person may be able to do some of these maintenance activities themselves, there are professionals who can get the job done the right way the first time.

Be financially prepared

Owning a home means continuous costs for upkeep, up to $500 a month in some cases. But emergencies happen, and it's important to have a nest egg saved up to deal with an unforeseen accident. Be prepared for anything from natural disasters like floods to human errors like fire damage. Your future self will thank you for being prepared, and your house will likely benefit from this as well.

Are you ready to find your next house? Reach out to the professionals at Ray White Surfers Paradise today to get started. 

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