Most people think that the cost of ownership includes only the mortgage and the rate. However, maintenance makes up a significant portion.

Regardless of the quality of building materials used, every house needs regular upkeep to keep it in shape. However, there are usually two types of maintenance when it comes to homeowners. Habitually keeping an eye out for signs of wear and fixing issues before things stop functioning is known as preventive maintenance. On the other hand, repairs conducted after something has rotted away or stopped working is known as breakdown maintenance. The first kind will always cost less and cause less stress than later.

Preventive maintenance is not done all at once; mostly, rather it is done when required. In other words, there is routine maintenance, conducted monthly or annually. Then you have more expensive and time-consuming upkeep ranging from intervals of two to five years, five to ten years, ten to fifteen years and then more than fifteen years. You can expect some of the following (not a comprehensive list) maintenance jobs:

Annual maintenance

• Inspect and lubricate garage door springs
• Clean drains and plumbing
• Clean refrigerator
• Check water heater
• Clean out chimney and fireplace
• Clean out dryer vents and remove blockages
• Replace smoke detectors

Every 2 – 5 years

• Caulking and grout
• Sealing HVAC ducts
• Termite inspection

Every 5 – 10 years

• Repainting
• Smaller kitchen appliances

Every 10 – 15 years

• Larger kitchen appliances
• Replace garage door opener

Every 15+ years

• Checking your roof
• Replace faucets
• Check decks for rot
• Replace HVAC unit

Rock Capital Investments Inc. Brokerage #10556. Each office is independently owned and operated. Proud member of Mortgage Centre Canada.