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Don’t Let Deferred Maintenance Decrease Your Bottom Line

Life is busy and as the old saying goes, “If it isn’t broke, don’t fix it.” However, for many property owners, deferred maintenance and home improvement projects that have piled up really end up slashing their bottom line when they go to sell. Even in a hot seller’s market, home repairs that have been ignored can severely detract from maximizing your potential earnings. There are three major reasons why home maintenance issues can affect your bottom line:

 

  • Deferred maintenance defers some potential purchasers creating a smaller buyer pool for your home
    • Peeling paint, rotten door and window casings, cracked masonry, and separating caulk, while minor maintenance issues, can pile up in a buyer’s mind and keep them from considering a property. Bigger home repair items like an HVAC system, roof, outdated or problematic plumbing (like Quest), can cause a purchase to cross your property off of their short list when comparing to other properties in their price range or ideal neighborhood. Obviously there are some projects that are smart to leave for the next owner, however, if it is a problem that you’ve had with the property for a while and it hasn’t been addressed, it will certainly become a problem for the potential purchaser either in their initial offer or during the home inspection negotiations.
  • Deferred maintenance will haunt you during the home inspection negotiations by slashing your bottom line
    • It is a good idea to keep up-to-date with maintenance issues around your home. Check your crawl space, ensure it is staying dry. Change your HVAC air filters on a monthly basis. Powerwash your exterior Hardiplank siding and brick. Control water near your home’s foundation. These tasks really don’t take too much time and can save you lots of money when you go to sell your property. Home inspectors are looking for systems and elements of the home that are failing or are in disrepair. Prior to putting your home on the market, it is a good idea to go ahead and take care of these items. It will be cheaper to have them repaired by the contractor that you select, rather than allowing a purchaser to make that call during the home inspection negotiation period. Lots of deferred maintenance items are going to end up costing you potentially thousands of dollars to ensure that you keep your potential purchaser interested in the deal.
  • Deferred maintenance could kill your deal entirely
    • For many sellers, issues yielded during the home inspection are things that they had no idea were going on with the home. If you are proactive about keeping up with monthly and yearly maintenance, it is less likely that these types of problems (mold in the crawlspace, underperforming HVAC equipment, faulty wires/plumbing) will actually exist.

-Josh White, Sales Partner and Realtor®, Story House Real Estate


Posted on March 7, 2019

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    Mar 23

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    JUST LISTED | THREE NEW HOMES 🎈

🏠 3428 Rowcross Street, Crozet, Virginia 22932 | MLS#639742 | $575,000 | 🛏️ 3 bed 🛁 3.5 bath | 🎉 OPEN HOUSE Sunday, March 26th from 1 PM - 3 PM, hosted by Abby!

🏠 175 Agatha Ridge Lane, Crozet, Virginia 22932 | MLS#639652 | $909,000 | 🛏️ 4 bed 🛁 3.5 bath | 🎉 OPEN HOUSE Sunday, March 26th from 12 PM - 2 PM, hosted by Josh!

🏠 2201 Stargate Lane, Charlottesville, Virginia 22911 | MLS#639636 | $375,000 | 🛏️ 3 bed 🛁 2 bath | 🎉 OPEN HOUSE Sunday, March 26th from 12 PM - 2 PM, hosted by Zoya!

📩 Email showings@storyhouseRE.com with questions! Showings begin by appointment on Friday, March 24th.

#justlisted #Charlottesvillerealestate #StoryHouseRealEstate #StoryHouseRE #startyournextstory #Charlottesville #startyourstorywithus #newlisting
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    Mar 23

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    🏠 Do you know where to begin when thinking about buying or selling? Our listing partner, Madison, is sharing the first 4 steps!

👉 Reach out to us!

👉 Schedule a walkthrough!

👉 Receive pricing recommendations

👉 The search begins!

Do you have questions about the buying or selling process? Drop them below!

#StoryHouseRE #StoryHouseRealEstate #Buying #Selling #RealEstateCharlottesville #realestate #realtor #realestateagent #realtorlife #dreamhome #realestatelife #charlottesville #cville #charlottesvilleva #movingtoCharlottesville #storyhouse #startyourstory #soldbystoryhouse #yournextchapter
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    Mar 22

    Open
    COMING SOON | 🏠 3428 Rowcross Street, Crozet, Virginia 22932 | MLS #639742 | $575,000 | 🎉 OPEN HOUSE Sunday 03/26 from 1 PM - 3 PM!

This 3-bed, 3.5-bath, Craig Builders end-unit townhome features a first-floor primary suite with a jetted soaker tub, glass shower with a seat, and a walk-in closet!

Enjoy the centrally-located eat-in kitchen with an expansive center island, granite countertops, a modern tile backsplash, stainless steel appliances (with gas range), and painted maple cabinets!

The convenient first-floor home office comes complete with french glassed-in doors, and the thoughtfully designed floor plan boasts a light-filled rear sunroom with custom built-ins and a gorgeous skylight.

Relax in the open-concept living room, complete with a gas fireplace, symmetrical built-ins, and cathedral/vaulted ceilings! Enjoy the unlimited storage space throughout including a dedicated upstairs cedar walk-in storage closet!

📍 Located in the highly sought-after Old Trail community with luxurious amenities such as a pool, golf, tennis, clubhouse, and more! Walkable to nearby restaurants and Western Albemarle High School, only 5 minutes from Downtown Historic Crozet and Harris Teeter grocery shopping, and only 15-20 minutes to Charlottesville/UVA!

Ready to start the next chapter in your story? Showings begin by appointment Friday, March 24th! 🎉 Email showings@storyhousere.com with any questions and/or interest!

#StoryHouseRealEstate #storyhousere #startyournextstory #comingsoon #Charlottesville #startyourstorywithus
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    Mar 22

    Open
    🥳 Happy Workiversary, Jess! How lucky are we to have had Jess on the team for the past 4 years? Jess is one of the most beautiful, kind, hardworking, and dedicated people we know, and we’re so blessed to have her as a part of the Story House family.

Jess, we’re always blown away by how much time and care you put into the many hats you wear: a top-notch sales agent, a wonderful mother and wife, and a cherished friend to all of us!

We love you and are wishing you a very happy workiversary! ❤️ ⭐️

@jtrivette4 #storyhousere #StoryHouseRealEstate #realestate #agent #Charlottesvillerealestate #Charlottesvilleagent #Workiversary #StoryHouseWorkiversary
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    Mar 21

    Open
    COMING SOON | TWO NEW HOMES 🎈

🏠 175 Agatha Ridge Lane, Crozet, Virginia 22932 | MLS#639652 | $909,000 | 🛏️ 4 bed 🛁 3.5 bath | 🎉 OPEN HOUSE Sunday, March 26th from 12 PM - 2 PM, hosted by Josh!

🏠 2201 Stargate Lane, Charlottesville, Virginia 22911 | MLS#639636 | $375,000 | 🛏️ 3 bed 🛁 2 bath | 🎉 OPEN HOUSE Sunday, March 26th from 12 PM - 2 PM, hosted by Zoya!

📩 Email showings@storyhouseRE.com with questions! Showings begin by appointment on Friday, March 24th.

#Charlottesvillerealestate #StoryHouseRealEstate #StoryHouseRE #startyournextstory #comingsoon #Charlottesville #StartYourStoryWithUs
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    STORY HOUSE REAL ESTATE
    2110 Ivy Road
    Charlottesville, VA 22903
    Phone: (434) 260-1435
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