4 Facts To Be Aware Of With Homeownership

4 Facts To Be Aware Of With Homeownership

 4 Facts To Be Aware Of With Homeownership

4 Facts To Be Aware Of With Homeownership

There is much more to owning a home than just making a mortgage payment.   Families should be aware of all the aspects that are involved with homeownership especially since neglecting some of these areas can result in loss of one’s investment in the home.

This article explores 4 facts that homeowners should not only be aware of but Maintain on regular routine in order to protect their sizable investment.

Let’s get started on the 4 FACTS: Update – Maintenance – T&I – Landscaping 

1.  Updating A Home

A home will requires updates throughout the Life time of homeownership. Can be cosmetic like fresh paint, updating landscaping, adding new window treatments.  While other updates are out of necessity such as replacing outdated HVAC systems (Inefficient), replacing the roof  (preventing weather damage).  Modernizing the Home –  can increase the value when preparing to sell.  for examples/ change the floor plan,  or to remodel a Kitchen or Bathroom.

Where updates like

  • replacing an old worn roof,
  • replacing inoperable HVAC systems or water heaters a
  • A kitchen update, window treatments, or more

While not required, they tend to increase  the value of a home. 

As time goes on and new homes with new features and styles are built, a home without any updates means a current buyer has to accept a severely outdated home or make the updates themselves.

Please NOTE, A buyer when given a choice of  a updated vs outdated home, will tend to purchase the New style or demand drastically reduced price for making updates themselves.

Basically homebuyers want a modern home that is ready to live in at current market prices.  (TURN KEY). Or the more outdate its interior is the more of a discount will be needed in order to help get that home sold.

2.  Deferred Maintenance

Maintenance is an ongoing thing for a home and generally should be taken care of as soon as an issue arises.  Whether maintenance issues arise from pest intrusions, caused by the weather, or items in a home wearing out with time and use avoiding the immediate repair can cause bigger problems down the line.  For example a home where water is allowed to enter through a leaking roof, bad seals between a window casing, or leaking plumbing may seem minor, but when it rains or the leak is a very slow drip the damage can become Very Costly.

If the water is leaking into enclosed spaces with very little air movement then the chances of mold growth increase.  If water is dripping on untreated wood then wood swelling issues and wood rot can happen.

Over time what  may have been saved by “deferring maintenance” ends up costing much more.

  • The little water leak has allowed mold to grow behind walls which now needs demolition and costly professional cleanup
  • the small plumbing leak under the sink caused wood rot in the cabinet and flooring below requiring costly repairs.
  • Leaking gutters can cause foundation problems because the gutters are meant to direct water away from the land right around the home.

So the important thing to do with a home is to make sure issues are taken care of right away or to keep a regular schedule of preventative maintenance (like HVAC tune up to diagnose and prevent toxic gas leakage into the home) to prevent bigger problems from happening in the future.  The money spent now to stop a problem in its tracks will be much less than the money spent to clean up the multiple other problems that pop up.

3. Taxes and Insurance  

If you own a home free and clear( no mortgage) then mortgage insurance is not required.  Now taxes, is a different story, its always required by local, county and/or state level governments.

Failure to pay taxes on a home can result in liens levied property or in some cases Foreclosure procedures.

Often times mortgage companies will require homeowners to pay into escrow money that will be used to pay the regular tax and insurance bills.  The amounts needed for the tax and insurance bill are paid for on a monthly basis where 1/12th of the total payments are paid each month.  Some mortgage lenders do allow homeowners to forgo an escrow account so long as they keep up with paying the insurance and tax payments on time.

If a homeowner has a mortgage then the mortgage company will require the homeowner to maintain an insurance policy on the home with certain minimum coverages.  If a homeowner does not have a mortgage it is still advisable that insurance coverage be maintained on the home.  A home is generally one of the most expensive things people will own and to not cover it  with insurance could end up being very costly in the event the worst does happen and the home along all of its contents are lost due to some unforeseen event.

4. Landscaping

While some people may like to move into a home and never have to worry about mowing the lawn or maintaining the landscaping ( trees, bushes, plants  etc..). It is up to homeowner to do this or hire someone.

  •  Plant a large tree too close to a home and the root structure can begin to cause problems with the foundations.
  • Fail to cut down a dead tree and tomorrow it can fall on your home causing roof damage.
  • Large trees by homes allow pests easier access to the attic area where certain animals (mice, squirrels, etc.)
  • If bushes and other vegetative cover are too close to a home, this provides easy pathway for insects to the home.

ALL of these examples are COSTLY to the Homeowner!

Landscaping is also one of those things that add curb appeal to the home. 

While for some homeowners this may not matter until house goes on the market, it drastically effects adversely the curb appeal.  The condition of the  landscaping will be a big factor when one goes to sell or apply for a mortgage refinance.

Remember You can pay now or Really Pay later  !!!

Ongoing maintenance of the Property Interior,  Exterior & Landscaping will prevent disastrous situations.


Purchasing a house is NOT just paying the monthly mortgage, It includes maintenance of the property, Insurance & Taxes. Remember Homeownership is a Long term commitment and one of the biggest financial investments in your lifetime.

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Contacts us directly at Marcia 339-364-0600 or  Mario 914-598-7455 or email at  MandMSolutionProvider@gmail.com


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