Maintaining real estate properly

Many owners have been working towards the fulfillment of their dream of owning their own home for a long time. That's why property owners should pay particular attention to maintenance. Because then it is also possible to maintain the value of the cherished home for a long time. After all, your own property should also be a good retirement provision. That's why we'll tell you what you really need to know about maintenance.

The professional maintenance of a property is not only focused on maintaining its residential value. It is also primarily the market value that decreases due to a lack of maintenance. Wear and tear make themselves felt negatively in terms of the value of a property. Repairs should never be postponed. By doing so, homeowners only run the risk of being confronted with even higher costs for repairing the damage later on. A leaking roof can allow moisture to penetrate the insulation. This then often leads to mold growth and a lack of insulation. Likewise, a crack in the facade can lead to major damage if it is not repaired. This is because it can burst open during the next frost, and only enlargement will occur.

Property owners should address inspections on their property every two to three years. Every five to ten years, a specialist should also be commissioned for the inspection. This is because only a specialist can detect damage that is not immediately noticeable to laypersons. Technical systems should even be inspected by a specialist at shorter intervals. Homeowners should always have sufficient reserves for maintenance and inspections. Those who build up reserves have a clear advantage here. After all, the costs of repairing damage will be incurred at some point anyway. Depending on the year of construction, between 7 and 12 euros per square meter and year should be set aside. The value is determined by the age of the property. The maintenance costs for an older property are much higher than the maintenance costs for a new building.

Owners can recoup part of the cost of maintaining their own home through tax. In this country, it is possible to deduct from taxes all expenses that serve the proper maintenance of a property. These costs are known as maintenance expenses and are claimed. In this context, 20 percent of the maintenance costs are taken into account up to an amount of 6,000 euros. Tax savings of up to 1,200 euros per year are possible. However, only labor and travel costs are taken into account, not material costs. Among other things, costs for roof renovations, facade renovations, heat insulation measures, the installation of energy-efficient systems, heating system renovations and bathroom renovations are deductible.

Would you like to know how maintenance measures affect the value of your property? Contact us now. We will be happy to advise you.

 

Legal Notice: This article does not constitute tax or legal advice in individual cases. Please have the facts of your specific individual case clarified by a lawyer and/or tax advisor.

 

 

Photo: © artush/Depositphotos.com

Rate your property now!

Free of charge | Non-binding