Save money by seeing to home repairs promptly

Procrastination often comes at a cost, and when it comes to home maintenance, these costs are high. Neglecting home repairs can lead to costly contractor bills and, if issues are not rectified, a lower selling price.

According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, protecting a property’s resale value should be a homeowner’s main priority if they want to ensure the best possible return on investment.

“What starts as a tiny crack or a minor leak can quickly escalate into a major problem if left unattended. A small water leak, for example, can gradually lead to mold growth, structural damage, and even compromise the integrity of your home’s foundation. By addressing issues promptly, you can nip them in the bud, preventing them from spiralling into more extensive—and expensive—repairs,” he explains.

Goslett adds that a well-maintained home retains its value better than one that has been neglected. “Sometimes, the need to sell can arise suddenly. If a homeowner has kept the home well maintained, they put themselves in a better position to earn a higher return on their investment if they suddenly need to sell the home quickly,” he notes.

He also advises landlords to act promptly when a tenant raises a maintenance issue and reminds landlords that repairs can only be at the tenant’s own expense if the tenant caused the damage through wilful or negligent actions.

“Depending on the severity of the damage and the wording of the contract, a landlord might be in breach of the rental agreement if they fail to make the necessary repairs within a reasonable time frame. This is why I would always advise landlords to set up an emergency fund to pay for any repairs that might suddenly arise within their rental portfolios.”

One additional benefit to seeing to repairs promptly is that it might even reduce your monthly utility costs. “For example, sealing gaps and cracks in doors and windows prevents heat loss in winter and keeps your home cooler in summer, reducing the workload on your heating and cooling systems and lowering your electric bill. Similarly, replacing leaky or faulty faucets can reduce your water consumption and lower your monthly water bill,” says Goslett.

“Attending to home repairs promptly is not just about maintaining the overall appeal of your property; it’s a prudent financial decision that can save you a significant amount of money in the long run,” he concludes.

Writer: Kayla Ferguson