Maintenance Costs

A rule of thumb suggests that in an average year a property requires 1-2% of its current value in maintenance costs. Some years will be higher and some a bit lower. Newer and better quality homes may have lower maintenance costs. But all homes require regular annual maintenance.

The use of better quality materials and labor will reduce maintenance costs over the long term. The important thing to keep in mind is that a well maintained home will improve in quality over time. The poorly maintained home will eventually require major renovation, and the cost could exceed new construction costs.

One often hears the adage, "I wish they would build them the way they used to." The statement is mostly true if we look at trim details and the extensive use of old growth fine finish lumber. However, when it comes to the basic structure, the electrical, plumbing and heating systems of today's spec. homes, we see that they are vastly superior to their turn-of-the-century counterparts with tube and knob wiring, little or no insulation, and rust clogged galvanized supply lines. It is also vastly easier to install fine inlaid hardwood flooring as a replacement to the builder's basic wall to wall carpeting (standard in today's spec. home) than to retrofit the turn-of-the-century energy guzzler.

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Spec Homes