{"id":6494,"date":"2022-09-06T09:44:57","date_gmt":"2022-09-06T13:44:57","guid":{"rendered":"https:\/\/dankrell.com\/blog\/?p=6494"},"modified":"2022-09-06T09:45:01","modified_gmt":"2022-09-06T13:45:01","slug":"catch-up-with-deferred-maintenance","status":"publish","type":"post","link":"https:\/\/dankrell.com\/blog\/2022\/09\/06\/catch-up-with-deferred-maintenance\/","title":{"rendered":"Catch up with deferred maintenance"},"content":{"rendered":"\n

After the Great Recession, the country\u2019s housing stock deteriorated<\/a>.\u00a0 Many financially strapped home owners could not afford the cost of maintaining their home.\u00a0 Many of those home owners deferred maintenance thinking they would do it when their financial picture got better.\u00a0 Others abandoned their homes, willing to face foreclosure to have a fresh start. <\/p>\n\n\n\n

\"deferred<\/a>
Home quality <\/figcaption><\/figure><\/div>\n\n\n\n

As a result, the housing stock deteriorated<\/a> as time passed. Foreclosed homes deteriorated during the foreclosure process.\u00a0 And many others decided to sell their deferred maintenance home.\u00a0 It wasn\u2019t until five to seven years after the recession that \u201cthe cost of doing nothing\u201d was realized.<\/p>\n\n\n\n

However, the antithesis was the many home owners who opted\nto update and remodeled their homes in lieu of moving.  The decision to stay and \u201cmake do\u201d was\nprimarily because of the depressed home sale market. Many home owners who\nwanted to move couldn\u2019t because the potential sale price would have been much\nlower than what the home owner needed to move. \nAdditionally, there were many who were \u201cunder-water,\u201d meaning that their\nmortgage payoff was higher than what the home was worth at that time.<\/p>\n\n\n\n

As the market improved, home sellers realized that their\nwell maintained, renovated\/updated homes, sell faster and for more. Real estate\nagents quickly embraced the idea of renovating prior to putting the home on the\nmarket.  The pay off for this strategy\nwas evident in the recent sellers\u2019 market (2020-2022), where well maintained\nand updated homes garnered a lot of attention, received multiple offers, and launched\nhome sale prices to double digit increases.<\/p>\n\n\n\n

Just as remodeling can increase the value of your\nhome, deferring maintenance will decrease your home\u2019s value. Unfortunately,\nmany home owners, and their agents, believe that years of deferred maintenance\ncan be overcome with simple and inexpensive renovations.  The truth is that years of deferred\nmaintenance deteriorates the condition of your home, making it vulnerable to\nthe elements, pests, and time.  Deferring\nmaintenance also makes repairs and updates more costly down the road.  <\/p>\n\n\n\n

If your home has deferred maintenance, it\u2019s not too late to catch up.\u00a0 If there are many projects with which to catch up, prioritize the most important.\u00a0 You will find that as you catch up with deferred maintenance, your comfort and enjoyment of your home increases.\u00a0 And if you\u2019re planning a move in near future, keeping up with home maintenance will make your home sale preparation straightforward and easy.<\/p>\n\n\n\n

By Dan Krell
Copyright \u00a9 2022 <\/p>\n\n\n\n

\"Protected<\/a><\/figure>\n\n\n\n

Disclaimer<\/a>.\n This article is not intended to provide nor should it be relied upon \nfor legal and financial advice. Readers should not rely solely on the \ninformation contained herein, as it does not purport to be comprehensive\n or render specific advice. Readers should consult with an attorney \nregarding local real estate laws and customs as they vary by state and \njurisdiction. Using this article without permission is a violation of \ncopyright laws.<\/p>\n","protected":false},"excerpt":{"rendered":"

After the Great Recession, the country\u2019s housing stock deteriorated.\u00a0 Many financially strapped home owners could not afford the cost of maintaining their home.\u00a0 Many of those home owners deferred maintenance thinking they would do it when their financial picture got better.\u00a0 Others abandoned their homes, willing to face foreclosure to have a fresh start. As … <\/p>\n

Continue reading “Catch up with deferred maintenance”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[178,419,123,13,377],"tags":[887,926,939,865,797],"class_list":["post-6494","post","type-post","status-publish","format-standard","hentry","category-home-maintenance","category-home-owner","category-home-sale","category-real-estate","category-renovation","tag-home-maintenance","tag-home-owner","tag-home-renovation","tag-home-sale","tag-real-estate"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p1VZLf-1GK","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/6494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/comments?post=6494"}],"version-history":[{"count":8,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/6494\/revisions"}],"predecessor-version":[{"id":6507,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/6494\/revisions\/6507"}],"wp:attachment":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/media?parent=6494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/categories?post=6494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/tags?post=6494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}