A majority of potential home sellers are taking their property sale listings off the market until the COVID-19 lockdown is relaxed across the board and home buying demand picks up again. As their property stays off-market for possibly another nine months or more, what should they do to ensure its proper upkeep?
Home sellers usually pick this time of the year to enter the market because of the start of the fiscal cycle and a host of real estate investors sitting on piles of cash looking for investment avenues. However, as the lockdown has thrown quite a big spanner in the works, real estate sales have been put off for at least nine months or a year from now.
As buyers apply a wait-and-watch approach until the lockdown is lifted, it is important that as a seller, you ensure that your ready-to-move property maintains its sheen throughout. During this gestation period, there are various things you could do for the upkeep of the property, which we shall discuss here.
Home maintenance during the lockdown
The various components of the property, from the wiring or the paint job to the drainage systems and plumbing, all have different levels of durability. Their collective lifespans determine the regularity of upkeep that your home requires to ensure that it is presentable a year from now.
Here are some maintenance tips you can employ to ensure that your property is presentable for sale after the lockdown:
1. Using the right materials
The first step you can take is in the construction phase itself by using heavy-duty materials for elements of the property. Employing rod bindings along windows, vinyl or linoleum for flooring, copper-plated electrical wiring and so on should be a precaution any home seller must take to prolong the lifespan of the property. Use mould-resistant dry-wall or sheetrock in areas which are prone to wetness.
You can start with waterproofing the exterior of your home by implementing a paint job that can double up as a sealant against water leaking into the walls. You can also apply a paintable latex caulk, which can prevent any cracks from widening and would not peel off even in the fiercest of monsoons.
When it comes to the indoors, you should seal the edges of your sinks, showers and bathtubs with silicone caulk. Periodic checks, every three months, must be carried out to see if there are any cracks developing in the walls, which should be sealed immediately.
3. Pest prevention
Termites and rodents pose bigger risks to the presentability of your home than climatic weathering or the formation of mould. Employ dehumidifiers in damp crawl spaces, dispose of garbage in a timely manner and vacuum at least once a week to avoid attracting these unwanted guests.
4. Prepare a maintenance budget and a home maintenance schedule
No matter how long your home stays unsold on the market, enforcing a consistent home maintenance schedule can help you get the most from your property and its systems and features. Create a schedule for changing your air filters, cleaning your gutters and scheduling a biannual HVAC check-up to keep all systems in perfect condition for when it is time to sell.
While planning your budget as a home seller, a maintenance budget must be set aside as an essential component, as it is tough to tell when the buyer activity would resume with the looming market instability. You should have enough funds to take care of periodic maintenance work once the construction of the home is completed.
While the real estate sector recovers, do keep these maintenance tips handy to keep the condition of your saleable property in check. Over the next year or so, you may employ these measures, and as buyer activity resumes, you would have a property that is as good as new and in a marketable condition.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. Nivasan Homes does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.