Rob Pellegrini

Direct: 306-280-1602 |

If you own a car, you know there’s more to the cost-of-ownership than just
finance payments and gas. You also need to budget for maintenance and
repairs. If your car is older, those costs are going to be higher. That’s just
common sense.

 

The same is true of your home. It’s wise to budget for anticipated repairs
and maintenance. Otherwise, you might be caught by surprise when you
find that your furnace stops working and needs to be replaced. That can
easily be a four-figure expense.

 

Experts recommend that you set aside 1% of the value of your home for
repairs and maintenance. For a $500,000 property, for example, that would
be $5,000. That is, of course, merely a rule of thumb. If your home is older,
you may need to budget more.

 

Another recommended method is to budget $1 a square foot. If you have a
2,500 square foot home, that would be a budget of $2,500. Again, that
number would need to be higher for older properties.

 

When budgeting, consider things that are getting old and will likely need to
be replaced within the next three years. Examples include roof shingles,
furnace, A/C unit, deck, fence, plumbing, and windows. Depending on the
size and model, a new A/C unit will cost at least $5,000. Anticipating that
expense will help you plan accordingly and avoid the shock of an
unpleasant and costly surprise.

 

Keep in mind that budgeting $2,000 for repairs and maintenance doesn’t
mean you’ll actually spend that money this year. But, if needed, the budget
will be there, and that’s peace-of-mind.

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The “3 Up” Strategy for Selling Your Home Quickly

 

There are many reasons why you may need to sell your home quickly: a
sudden job relocation; a change in family situation; or perhaps an
opportunity to purchase a new home that you just can’t pass up.

 

Whatever the reason, this strategy will help when you need to sell fast. It’s
called the “3 Up” strategy.

 

  • Fix it up.
  • Clean it up.
  • Spruce it up.

 

First, you need to fix it up. That simply means getting things repaired around
your property, such as a broken floor tile in the kitchen or a sticking patio
door that’s difficult to open and close. Maintenance issues like these distract
buyers from the appealing qualities of your home. Fortunately, repairs can
usually be done quickly.

 

Second, clean it up. Obviously, when your home is clean and tidy it’s going
to look its best. You also want to eliminate as much clutter as possible. You
don’t need to make every room look like a magazine cover — but that’s a
good attitude to have when prepping your home for a quick sale!

 

Finally, spruce it up. That means making any quick improvements that are
going to make your home even more appealing. It might mean replacing the
kitchen counters or giving the main rooms a fresh coat of paint.

 

Of course, the number one strategy for getting that SOLD sign on your front
yard is to select a great REALTOR®.

 

Looking for a great REALTOR®? Call me today.

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