Home Maintenance Check List

At some point in the future you’re going to want to sell your house and with all the improvements you’ve made over the years, you should get a nice return on the sale, assuming you don’t let your house fall apart.

Remodeling can be frustrating but it’s also fun. Maintenance is dull and routine, but you have to do it if you want to retain the value you’ve added to your home. For example: Hardwood floors need to be refinished every 5-10 years depending on wear and tear. If they get too worn down you can do permanent damage to the wood. Exteriors need to be repainted every 5-10 years too, depending on such factors as the weather where you live, or you can damage the exterior wood. Your roof and gutters need annual inspections. A clogged or damaged gutter and drain spout can flood your basement and cause serious damage.

Here is an annual checklist for home maintenance:

Kitchen: Check for leaks under and around the sink. Plumbing leaks can damage cabinetry and floors. Check and repair grout and caulking on tile countertops and around the sink. Also check wear and tear on wood floors, which periodically need to be refinished.
Bathrooms: Check for plumbing leaks and check grout on tiles. If the grout gets worn away water will start getting into the walls behind the bathroom, causing damage.
Basement: Check for cracks in the foundation and leaks. Buildings settle over time and even after decades of having a dry basement leaks may suddenly occur.
Attic: Check for signs of water leakage from the roof. Also look for any sign of termites or rodents. Squirrels or rats that nest in your attic can chew electrical wiring, which can lead to fires.
Smoke alarms: Batteries need to be changed annually.
Heating system: If yours has a filter, change it annually.
Air conditioning system: Change all filters monthly or as recommended by the filter manufacturer.
Roof: Note if any shingles have fallen off or if gutters or downspouts appear clogged or damaged. You can always hire a reliable roofing company to get on the roof and take a look. Reputable roofing companies won’t try to sell you a new one unless you really need it. You can simply pay them for an inspection.
House exterior: If your house is wood, check that the paint hasn’t worn away so much that the primer paint is showing. If the primer also wears down, you can do damage to the wood. Brick houses should be inspected for damaged bricks or masonry. Check stucco houses and repair any cracks large enough to slide a nickel into.
Asphalt and concrete driveways: Repair any cracks or buckling

Explanation of a Cash Out Loan (mortgage)

Cash out loans are loans made against your home’s equity the amount a homeowner has available is calculated by subtracting the home’s remaining balance from the home’s current market value. There are plenty of reasons people use cash out loans. Some of the more common reasons are:
Pay off credit card debt
Pay off car
Home Improvement
Pool
Fix up basement
Build a garage
Investing College
It is never a wise decision to pull all of the cash out of your home. Always keep your loan to value below 80% to avoid paying mortgage insurance. An example of a loan to value of 80% would be the following:
Your house is worth $100,000
you owe $80,000
In the above example you should never go above the $80,000 mark. This is a good rule of thumb example.