The Time Warp Trap

House stuck in a time warp?  Perhaps it is the forest green carpet, the glass and brass chandelier, or the large floral wallpaper.  It could be a home that is literally stuck in the 1970’s- including appliances, windows, roof, and furnace.  Whatever decade your home may be, there is the chance as life is lived, over time, the time warp takes over and before long, the laundry list of to fix, replace, or update is a mile long and comes with a hefty price tag.  This can often be a major stumbling block when selling an older home as buyers are not often eager to put in the financial or sweat equity into bringing the home into the modern era.

What is a homeowner to do?  Often, a good rule of thumb for any homeowner, even those in new construction homes, is to save 1{16e476496f5f3a73cb19f20a476d08f8bca71b0bf9338242f1d2bf6ed337f382} of the home’s value every year for eventual maintenance and updating (more if the home is older).  This way, savings accumulated over time will easily pay for those time warp traps.  In 10-15 years, when many of the home’s original fixtures need replacing, a cash cushion is there to soften the blow and keep the home at market standards.  In the end, a little upfront saving will make the eventual selling process less overwhelming and probably bring a buyer sooner.