Introduction
Repairs & Maintenance, in this case, preventative maintenance, are both very important aspects of maintaining a home or a piece of equipment within the home and the actual building/infrastructure. It is, however, important to note that they both serve different purposes.
Repairs are typically in response to an issue or failure that has already occurred. The goal of repairs is to fix the specific problem and restore the equipment or infrastructure to its normal functioning. Repairs are reactive and are often more costly and time-consuming than when addressing a maintenance issue.
Maintenance/Preventative Maintenance: Regular and proactive maintenance activities aimed at preventing equipment or infrastructure from failing. This can include tasks such as regular inspections, lubrication, cleaning, and minor adjustments. The goal of preventive maintenance is to identify and address potential issues before they lead to equipment failure, thereby reducing the likelihood of costly repairs and minimizing downtime.
What’s the Difference between Home Repairs & Home Maintenance in NYC: Repairs are reactive measures taken to fix a specific problem, while preventive maintenance is proactive and aims to prevent problems from occurring in the first place. Both are important for ensuring the reliability and longevity of your home equipment and the building infrastructure itself.
The obvious home maintenance areas;
Lawn care, including mowing and watering
Keeping exterior paint fresh, and siding in good condition
Keeping the home clean
The not-so-obvious home maintenance costs
Pest Prevention
Clearing rain gutters
Replacing smoke alarm batteries
Roof Repair
Roof Repair/Replacement
The upkeep and maintenance of your roof is one of the more expensive maintenance costs that a homeowner can incur. Typically, a newly installed roof is expected to last 20 years (if kept in good condition).
HVAC, Wiring, Plumbing Systems
As an NyC homeowner, we advise that you take into consideration the costs of maintaining your plumbing systems, heating, ventilation & air conditioning (HVAC).
During your visits to your future home, take a walk to the basement, take a look at the wiring and plumbing points in the basement. If any issues are discovered with the wiring or the plumbing will likely require a professional, professionals come at a premium. The average cost of a wiring project is about $2,000, according to Home Advisor, while single fixture plumbing issues can range from $600 to $1,600, per Handy/Angi.
Finding the Right General Contractor
In most cases, and this is the way of the market, when you do find the right general contractor who happens to speak your language (so to speak, i.e. code for, he speaks good English), the contractor that also “understands you” (another variation of the above code), you as the new client, expect to overpay, expect to pay at least 20% more than the majority of the other quotes received. Now why is this the Case? The simple reason is that the really good contractors are always busy. The word spreads, they become well known and subsequently, grow in demand. High demand is very few who are reliable and skillful.
Beware, some contractors can’t keep enough crew to run the one they have, so they have guys bounce around and do this here, and there, to keep the homeowners happy enough to not freak out.
Finding the Right General Contractor
If you invite a GC over to your home to inspect a project and subsequently provide you with an estimate, seize the opportunity and give the GC the “Client Eye Test.” The Client Eye test: Take a good inventory of how the GC presents himself. First impressions count, so that means well dressed and well groomed, look you in the eye, firm handshake, nice van/truck with a company logo. Make sure they have a tape measure on hand along with a clipboard to take notes.
Is the GC licensed and insured? Ask yourself, what are the Pros and Cons of hiring a particular GC. Draw up the best points and areas of each GC. We recommend that you seek the estimate of at least three different GC’s
The Step of a First Time HomeBuyer: Your very first step on your Home OwnerShip Journey; first talk to a mortgage broker/bank/credit union and get a pre-approval so you have a sense of what your real budget is. Never put the cart before the horse, and never fall in love with a home before obtaining mortgage approval
Home Inspection: What is a Home Inspection?
Get an inspection. Even if it’s new construction/gut renovation. My realtor said that like 90% of buyers don’t bother with an inspection.
20 Questions You Should Always Ask During Your Property Visit Before You Purchasing Your First Home:
Make sure you ask if there is asbestos in the building. Talk to the super as well.
First-Time Home Buyer Emergency Fund: The hot water tank dying is a lot less stressful when you have the cash set aside for a replacement. During the winter, burst pipes due to minus temperatures can lead to a homeowner dipping into his/her emergency fund.
First-time Home Buyers Series: The Intro
Home Ownership, the American Dream, is, and can be a nightmare, it can also be a very expensive nightmare. Our job is to inform you in detail of your home’s repair & maintenance aspects. We continuously strive to provide you with the most current and informative answers to the questions and queries you may have regarding the repair and maintenance of your home as required by NYC and NY State Laws
It is the fundamental duty of a First Time Homeowner to educate themselves on the buying process, and learn as much as they can about the buying process to avoid the inevitable pitfalls that await you, the First Time Home Buyer on the fulfillment of your dream, which is the completion of the purchase of your First Home. One of those many pitfalls that await the new HomeOwner is the one that continuously “overlooks the hidden costs of homeownership.”
The Hidden Costs of Home Ownership
One of the most important things to know as a first-time homebuyer is that owning a home can be more expensive than one anticipates. If your heart skipped a beat when you saw your new monthly mortgage principal and interest payment, wait until you add up the other costs of owning a home.
NYC First Time Home Buyer: Beware of Maintenance & Upkeep. Aside from your monthly bills as a HomeOwner, some of which include but are not limited to your monthly:
Cable Bill
Electricity Bill
Water Bill
Home Insurance
Don’t forget the unexpected roof leak due to a blocked gutter on the roof, or the heavy rain from the night before that left your basement flooded, or the golf ball through the window that needs replacement. Unexpected repairs sometimes lead to permit applications with the city where you reside. Your Landscaping and handyman bills should be given some thought too.
A More detailed approach to “Unexpected Flooded Basement”: Many basements in NYC and its surrounding suburbs are prone to flooding after heavy storms, This can be due to various reasons.
Many a time, I have provided a prospective client with a Home Improvement free detailed estimate for home improvement upgrades only for the prospective client to be denied a mortgage for that particular amount.
New York & New Jersey First Time Home Buyers: Learn & Know Your Market
Another self-educated step for the First Time HomeBuyer is to learn and then know your market so you can communicate with your realtor clearly and effectively. There is nothing like a well-informed First Time Home Buyer. Take the first-time homebuyer program that qualifies you and confirms your eligibility to purchase a home in New York. https://nhsnyc.org/programs-services/homeownership-services/
Buying a Home for the First Time, What/Who Do You Need to Start the Process? If you’re buying a home in NYC, it’s most likely to be a co-op. It’s a long process, especially at the beginning.
First-Time Home Buyer: What do you Need to Start the Process: You need a mortgage broker, a real estate broker, a real estate attorney, and a lender. In the case of a co-op, you’ll have to fill out an application for the board which can be lengthy. Expect a minimum of at least seventy days before you can close on the purchase.
In NYC, approx 16% of our housing inventory is/are single-family homes, so right off the bat, if you hate rules and laws and neighbors, then by all means, hold out for a single-family home.
Most likely you’ll buy a condo or co-op. After eliminating single-family homes/brownstone/penthouses/mansions, you’ll probably be left to pick between a condo or a co-op. Your first task in this process is determining which of the pair better aligns with your finances.
The Ongoing Increasingly High Costs of Homeownership in New York City & its Suburbs
When buying a home, a majority of First Time Buyers only budget for the upfront costs when buying their first home, unfortunately, there are quite a few more additional expenses that most First Time Home Buyers overlook. For example, if you purchase your first condo, and you end up moving into a community with an HOA, by the HOA agreement that you signed, all members of the HOA are required to pay the fee monthly.
