Don’t Allow Time to Threaten Portland Property Values Gains
When we read or hear that Portland property values continue to be on the rise, it’s a relief. No matter what else is going on, at least our real estate investment’s back on track!
That comforting thought has a less reassuring sidebar, though, having to do with time and its effect on our investment. As every homeowner learns soon enough, regardless of the general trend toward rising property values in Portland, that’s only going to hold when the underlying investment—your home—is not allowed to deteriorate over time.
Protecting gains in Portland property values by preventing the kinds of deterioration that time (and wear and tear) threaten to wreak doesn’t have to be expensive.
One good example applies to homes with a wooden deck. Dean Bennett, owner of a Colorado-based design and building firm, points out how simply applying a fresh coat of stain every three years yields a high ROI. That’s because the weatherproofing effect can be quantified. The stain costs anywhere from $40 to a few hundred dollars— plus a few hundred more if you seek professional help. But a well-stained deck can last at least 20 years (sometimes much longer). Wholesale replacement is, comparatively, a high-ticket item.
Most property owners pay attention to cooling and heating only in parts of the house where people live. But head up to the attic in summer or winter, and if too much cold or heat is apparent up there, proper venting and insulation can relieve temperature extremes that sometimes cause structural damage. The bonus: simple, inexpensive maintenance efforts in the attic can quickly recoup costs by lowering heating and cooling bills.
Similar property value protection accompanies vigilance to smaller issues like gaps and cracks around windows, garage doorframes, and at the foundation. It only takes an occasional quick visual survey to spot them—and a can of spray foam to fill them. Drafts under doors are a similar situation, curable by inexpensive weather-stripping. According to Bennett, a $15 length and a few nails can save up to $160 in annual heating and energy bills.
If you are considering taking advantage of the upcoming spring selling season, any rise in property values in Portland is no abstract matter. We hope that you’ll give The Craig Reger group a call to discuss the latest market activity! (503) 389-0686