Tags: homeowner mistakes | home values

9 Expensive Mistakes You are Making With Your Home

Image shows home outline with a dollar sign in the middle for a doorway

By    |   Tuesday, 22 October 2019 10:05 AM

Being a first-time homeowner is an exciting experience. It also can be a daunting one. What many people don't take into account is how the decisions they make for their homes will impact them years down the line. Small choices like the paint you use can have costly repercussions. To prevent this from happening, here are nine expensive household mistakes you may be making, according to Best Life.

1. Not inspecting your roof regularly. If you ignore your roof, it may deteriorate to the point where you have to spend thousands of dollars to get it fixed. To avoid this, take time to conduct a thorough inspection at least once a year. Look for leaks, water damage as well as ice and snow damage, Kershan Bulsara, manager of Roofmaster in Ottawa, Ontario, recommends.

2. Neglecting your driveway. It is easy to forget about your driveway but neglecting it and allowing it to slowly corrode could be another costly mistake. "Driveways can be damaged from oil or gasoline stains, as well as any de-icing chemicals when melting snow on your driveway during the winter," says Michael Colacci, chief operating officer for power-washing company H2Go Mobile Wash.

3. Ignoring cracks in your foundation. You may not have even noticed cracks in your home's foundation but overlooking them could end up being detrimental for your house. "Signs for foundation issues can include mold that has grown on the outside of your house, strange smells, or even an insect infestation in your basement," says Alex Berezowski, owner of The Foundation Experts in Ottawa, Ontario. "If you don't take care of your home's foundation problems when these signs first occur, it will cost you a lot of money."

4. Avoiding having your leaky faucet fixed.- So you have a leaky faucet that drips every now and again. How bad could it be? Before you shrug off repairs consider this: You can waste up to 34 gallons of water a year with just one faucet that leaks just one drip every minute. Not only does that negatively impact the environment, your water bill will suffer too.

5. Splashing out on brand-name paint. You want the best for your home, and you want to maintain its value, but the truth is that, if you are opting for luxury brand-name paints, you are wasting your money. "Find your favorite brand-name paint color, and have a less expensive, and reputable company color-swatch that color," says Lauren Mochizuki, a décor and finance blogger at Casa Mochi. "We picked many brand-name paint colors for our remodel and we had Dunn-Edwards color match ours for a fraction of the retail price of the other name brand."

6. Delaying paying off your mortgage. Many homeowners pay off their mortgage without fully understanding it, or the financial implications of not prioritizing it. "Most people ever really see how much total interest their mortgage is going to cost them over the life of their loan, which for most people is 30 years," says John Bodrozic, co-founder of HomeZada. "As a result, consumers don't really pay attention to the ways to pay down their mortgage sooner, which can save them a lot of money in interest over the long term."

7. You turn to the pros all the time. Somethings only the professionals can fix but there are tons of other small projects that you can do yourself, which could save you in the long run. Not sure what you are doing? There are countless online tutorials that can assist.

8. Not cleaning your air-ducts. Over time, dirt and debris build up in your vents and can restrict the amount of air that gets through, explains Allen Michael of Saws Hub. "This causes your units to work harder and operate less efficiently, costing you more money each month, while also lowering the lifespan of these expensive appliances."

9. Not using blackout curtains. Using blackout curtains can actually save you money. How? "Not getting blackout curtains can be a huge cost mistake," says Stacy Caprio with Deals Scoop. This is especially true if you are living in hot areas where you can easily rack up your aircon bills She notes that especially people in hot climates "when the sun is streaming inside of windows, raising temperatures."

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Being a first-time homeowner is an exciting experience. It also can be a daunting one. What many people don't take into account is how the decisions they make for their homes will impact them years down the line.
homeowner mistakes, home values
Tuesday, 22 October 2019 10:05 AM
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