Your home is a significant part of your financial portfolio, so we always like to share our advice on how to keep it at top value. Here are a few things that typically occur when people buy or sell a home, but may not be done when people are already living in a home.
1. GET A HOME INSPECTION
Most homeowners last had a home inspection when they were in the process of buying their home – which was likely years ago. We all repair things as they arise, but we don’t know what we don’t know (as we discover on virtually every home inspection).
Did you know that you can get a home inspection even if you aren’t buying? We actually recommend that you have a home inspection every 7 to 10 years just so you stay on top of all of the natural aging that is occurring on your property. A licensed inspector will come out and do an independent analysis of all the systems of your home and give you a report with photos.
The great thing is that the report will allow you to plan for major repairs and help you coordinate the smaller repairs by vendor so you can save on service calls. Think of it as getting a regular physical for your home to keep it healthy! Inspections range between $500 to $750 depending on the size of the home and its features.
2. GET A HOME WARRANTY
Many buyers get a one-year home warranty when they purchase their home, however, did you know that you can get a home warranty at any time during ownership? If your home is nearing the point of needing a new AC, new water heater, or new appliances then it might be a good time to consider a warranty.
Many people do not like home warranties because they have had less than great experiences. We get it. All warranty companies have their moments, and some are better than others. But we have definitely seen them work and have watched clients get new ACs, water heaters, dishwashers, pool equipment, and so much more.
3. EVALUATE YOUR HOMEOWNERS INSURANCE
Most of us price out and compare homeowner’s policies when we buy our homes, but then we may not regularly review those policies. Between inflation and the California fires, now is a good time to do a policy review and make sure your home and its contents are properly covered at today’s values. Also, check and see if your policy covers water lines from the house to the street. The City of Mesa markets this type of coverage through Service Line Warranties, but you may have better coverage through your homeowner’s policy.
4. CHECK YOUR TITLE
When you purchase a property the title company searches the county records to make sure that clean title can be delivered. However, in light of all the deed fraud that is going on, it is wise to regularly log on to the Maricopa County Assessor and Recorder’s sites to research your property. Go to mcassessor.maricopa.gov and enter your property address. Properties attached to that address should generate.
Click the APN number to be redirected to the Parcel Info page, which has everything from a link to view your tax bill to a Deed link that will redirect you to the County Recorder’s site, where you can view your recorded deed.
Make sure your names are correct, and if you have refinanced your property, make sure it was placed back in your trust, if you have one. You can also register for Maricopa Title Alert so you will be notified if anyone records a document under your name. A little digital housekeeping is always a good thing to protect your property.
We have a great list of inspectors, vendors, title companies, and more. Don’t hesitate to call us for a referral!