There are many factors which affect property value such as neighbourhood conditions, nasty neighbours, interior aesthetics, garden and outdoor maintenance etc. Some factors are beyond the control of the home or building owner while there are some which are definitely within the owner's power and ability to improve upon.
One of those areas which an owner could and should do something about is to undertake preventive maintenance actions. If you still have doubts about the effectiveness of such actions, the results of a study by researchers at the University of Connecticut as well as Syracuse University confirms that regular preventive maintenance actually increases the value of a house by about 1% each year.
This might seem like too small an increase to be worth both the time and effort and also the cost and expense but we should look at the benefits from a different perspective rather than just the actual monetary increase in value. As Dr John P. Harding, Professor of Finance & Real Estate at the University of Connecticut and one of the study's proponents notes "the 1% gain in valuation is usually offset by the ongoing cost of maintenance so it's probably best to say that the net effect of regular maintenance is to slow the rate of depreciation". That is the true intrinsic value of regular preventive maintenance.
In this respect, it would do well to remember the sage advice from one of the great American founding fathers Benjamin Franklin who said: "An ounce of prevention is worth a pound of cure."
The fact is, preventive maintenance is essential to preserving the value of our home as it has been proven by several other studies that a home could lose 10% of its value without such actions been taken regularly. In essence, routine preventive maintenance enhances curb appeal, ensures safety, and prevents neglected upkeep from turning into costly major repairs.
If you are lucky enough to own a residential or commercial building in the London area, then you can engage the services of Immaculate Exteriors. They are the premier Property Inspections & Building Cleaning Company in the city. They are able to conduct a property inspection to assess the extent and scope of work required and then recommend the necessary solution as they offer not Domestic and Commercial Pressure Washing Services such as Professional Patio Cleaning Services, Brick and Stone Cleaning, Masonry Paint and Graffiti Removal, Shop Front and Awning Cleaning and Algae and Moss Treatment, Cleaning and Removal.
One of those areas which an owner could and should do something about is to undertake preventive maintenance actions. If you still have doubts about the effectiveness of such actions, the results of a study by researchers at the University of Connecticut as well as Syracuse University confirms that regular preventive maintenance actually increases the value of a house by about 1% each year.
This might seem like too small an increase to be worth both the time and effort and also the cost and expense but we should look at the benefits from a different perspective rather than just the actual monetary increase in value. As Dr John P. Harding, Professor of Finance & Real Estate at the University of Connecticut and one of the study's proponents notes "the 1% gain in valuation is usually offset by the ongoing cost of maintenance so it's probably best to say that the net effect of regular maintenance is to slow the rate of depreciation". That is the true intrinsic value of regular preventive maintenance.
In this respect, it would do well to remember the sage advice from one of the great American founding fathers Benjamin Franklin who said: "An ounce of prevention is worth a pound of cure."
The fact is, preventive maintenance is essential to preserving the value of our home as it has been proven by several other studies that a home could lose 10% of its value without such actions been taken regularly. In essence, routine preventive maintenance enhances curb appeal, ensures safety, and prevents neglected upkeep from turning into costly major repairs.
If you are lucky enough to own a residential or commercial building in the London area, then you can engage the services of Immaculate Exteriors. They are the premier Property Inspections & Building Cleaning Company in the city. They are able to conduct a property inspection to assess the extent and scope of work required and then recommend the necessary solution as they offer not Domestic and Commercial Pressure Washing Services such as Professional Patio Cleaning Services, Brick and Stone Cleaning, Masonry Paint and Graffiti Removal, Shop Front and Awning Cleaning and Algae and Moss Treatment, Cleaning and Removal.
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