The Delayed Cost of Deferred Maintenance

I know we are all familiar with the concept of deferred maintenance even if the phrase is new or different. Let's say a trouble light comes on saying it's time to check your brakes. You know you should stop by the mechanic but they feel fine. Speaking from personal experience the cost of having the brakes looked at when the light first shows up is radically different from when you are stranded by the side of the road with frozen calipers or, worse, have to coast into the auto shop becuase your brake pads are well and truly gone. (always get the brake light checked out)

Deferred Maintenance ALWAYS Costs More

It's not much different with real estate. Fixing a roof leak now is much less expensive than patching it for a few seasons and finally fixing not only the roof but also the ruined structure and fixtures underneath due to prolonged water damage. But the short-term fix or solution is often so appealing as it's more often than not cheaper and makes us feel like we're doing something AND saving money. But, putting off small repairs today is more often than not a recipe for creating large repairs tomorrow.

The most fequent reason given for deferring maintenance is budgetary and this is understandable. However, always putting off repairs, updates, and fixes will surely lower one's property value and decrease options for what to do with the property in the future. What are choices & plans you can make now regarding saving money or resources so that when it's time to make the needed repairs, updates, and fixes to your property you'll be in a place to keep it at its best?