Tips & Advice
What’s the Difference?
When you sell your home, you may be asked by a realtor or potential buyer if the home is well-maintained. Is there any “deferred maintenance?” Are there things that need to be done to the home that kept getting pushed back for one reason or another? And when they talk about maintenance and keeping up your home, they typically have a couple of different things in mind: Repairs and Upgrades. But what’s the difference?
Both of these could be considered maintenance, so let’s start with simple definitions:
Repairs –
Fixing something in a home that no longer works properly. This could include addressing cracked or peeling paint or resolving a leaking drain or roof. Anything that is no longer working properly and doing its job could need repair.
Upgrades –
Adding or replacing something to a home to improve it. This could still include paint, but instead of addressing cracked or peeling paint, it might mean updating to a better color. Or it could be something like new appliances while the others still work but lack a modern look or certain features. It’s important to note that these include items attached to the home, and do not include furniture.
Not all upgrades are considered maintenance, but many are. Maintenance refers to things that are necessary for keeping the home up-to-date and in good working order.
Of course, there are upgrades that improve the home and increase value but may not be necessary. For instance, you might upgrade your home by installing recessed lights. This adds value but isn’t necessary, so it’s an upgrade, but not maintenance.
Now, let’s imagine that your electrical panel is working just fine, and so needs no repairs. But since the home was built or since it was last serviced, the building and safety codes around breakers and electrical panels have changed. To maintain your home and keep it up to date, you don’t have to fix anything, but you do need to upgrade to a newer panel. This is a non-repair, maintenance upgrade.
It’s a good idea to keep your home maintained and up to date for your own safety and enjoyment, and potential buyers, realtors, appraisers, and home inspectors will give special attention to needed repairs and upgrades.
If you’ve read enough but still have more you want to process and consider, we’re available by phone, just call and let us know how we can help.
