How to manage your home property?

A picture of an old house that needs to be managed well

Home property management

Really, everyone has affairs that must be managed, even if it is just the simple matter of getting through the day." 

So it is very worthwhile to stop and ask ourselves, “How well do I manage my home property?”

If you are a homeowner, your house probably constitutes your largest single asset.

With problems of inflation plaguing all industrial countries and replacement cost of homes spiraling, the value of your house will generally be rising at a rate that keeps pace with, or even exceeds, the rate of inflation.

Therefore, the home deserves management priority.

There are always things to do in connection with a home—repairing, replacing, tightening, adjusting, improving, painting, polishing, cutting grass, touching up, cleaning and other jobs unlimited.

So the first step in good home management is to make a list of what needs to be done and to establish priorities. How can you get someone to do all the necessary things? And how do you pay for it?

Surprisingly, there may be very little that you cannot do yourself—if you are willing to do a little reading and to spend the time needed to finish the tasks.

While you may not be able to accomplish everything quite as fast or as well as professionals, you may be able to save considerable money and to enjoy a sense of accomplishment as an added reward.

If time is a problem, make a list of available hours and put it beside your list of jobs. Then determine what things you can do and start the work as soon as possible.

It is not wise to put off making needed repairs, as the eventual day of reckoning may be more costly.

Most areas have building-supply stores or home-improvement centers. There, many excellent kits, simple tools, and do-it-yourself ideas are available, often at a reasonable cost.

Also, many libraries have a fine selection of literature on repairs, carpentering, concrete work, landscaping and a multitude of problems that accompany home ownership.

Even if you have to buy or rent tools, you may find it cheaper to do a job yourself than to have it done professionally.

It would be good to get the family involved in home improvement. The rewards are not limited to financial ones. Family participation also contributes to family unity.

Keeping the house clean is certainly an essential part of the maintenance program, and all can cooperate in this.

For example, it may be advisable to adopt the Oriental custom of taking off one’s shoes and putting on slippers when entering the home.

Surely, we would not appreciate someone’s walking from the stable into our living room and wiping his shoes on our favorite rug.

Yet, when compared with many city streets, the stable may be the cleaner place. Tons of soot, debris, garbage, filth and pollutants are present on most city streets.

Why deposit that kind of dirt in your home when this could be avoided simply by removing your shoes?

Management of a house should not ignore home protection. You may have to make decisions regarding insurance.

If you now have insurance, how recently have you examined your fire-insurance coverage and any liability and mortgage insurance that you may have?

Because of inflation, what was a good coverage a number of years ago may no longer be adequate. When did you last consider the cost of replacing the contents of your home?

Mortgage insurance is really term life insurance. In addition to protecting the home, it is a relatively inexpensive way of creating an “instant estate” in the event of death.

For a young couple, it is usually the most inexpensive way of providing financial protection.

If you are working toward a family goal such as a home, you must pay the price.

This often means living within the confines of a financial limitation for a considerable time until the goal is reached.

Having made this sacrifice,then you will see the value of good home property management.