Tricks to Affordability: Basic DIY

Problem: Americans Can Not Afford to Properly Maintain Their Homes

You do not have to think about “cash flows” or “net present value” when determining whether or not your home makes you poor:  the test proves far simpler:  does the idea of maintaining your home daunt you?  Do you hesitate repairing the roof, replacing leaking hot-water heaters, and even performing monthly yard maintenance?  These very necessary expenses for preserving the value of your home, if neglected, can quickly degrade the home’s value.

Solution:  Restore American DIY Culture

Americans historically built their own homes - yes, built their own homes.   Whether pioneers with logs or fathers and brothers assembling a Sears House kit (see https://www.searshouses.com/), Americans commonly built their homes with family and friends.

Today, with more stringent zoning and regulatory regimes, building an entire home DIY proves unrealistic for almost… everyone.  Furthermore, contractors generally have to charge between 100-200% mark-up for their work:  take any reasonable contractor estimate for your area, and divide it by two:  you’re starting to reach the actual cost, including labor.

By performing your own labor, in addition to buying your own materials, you can easily save up to three-times the cost of a contractor.  If you have the time to browse social media, guess what: you have the time to pick-up a paint brush.

Be Realistic… But Ambitious

When I ask a homebuyer if he has ever laid tile or painted a wall, you would be surprised to hear, “Of course not!”  However, for the “stretched homeowner”, learning these simple skills can actually mean the difference between fixing leaking tile grout to replacing rotten subflooring.

A homeowner has the responsibility, whether he likes it or not, to maintain the state of his home.  If that means hiring contractors for every task - fine - but again, if you wince at the thought of hiring a contractor, keep reading.

Which DIY Skill is the Most Important?  Copy the Flippers!!!

Ask any home flipper the most important improvement to make to a home, and he or she will tell you, “painting”.  If flippers seeking to maximize their return with minimal investment all emphasize painting, then you, as a homeowner seeking to grow his wealth, should also prepare to be able to paint(this includes prep work, i.e. sanding, washing, et cetera) both the interior AND exterior of your home.

If your skills go no further than sanding and painting, you already have a huge advantage over those who do not:  you can perform the most essential (paint protects surfaces and acts as a water vapor barrier - it has function beyond aesthetics) maintenance and, if necessary, keep your home looking desirable, should you need to rent or sell it.

If you have a deck, sanding and staining the deck yourself likewise proves essential to preserving its integrity and desirability.

Water - The Wealth Destroyer 

You could learn other DIY skills, such as cabinet installation, laying tile, and installing flooring, but I think just sanding and painting suffice for the average homeowner in terms of actual DIY trade skills.  Again, just copy the flippers - do not sweat this!

The other “DIY skill” you need to preserve your home’s value, though, is one of understanding:  you must have a grip on how your home deals with water.

If you want your home to crash in value, let water damage occur.  Nothing proves more insidious and costly to a home than water damage (aside from a fire, but you hopefully have insurance for that situation!)  

Recognizing water problems is a skill, like painting and sanding, but like painting and sanding, one that the average homeowner can learn.  

As mentioned above, in the example of the leaking tile grout, knowing from where water can enter your home and how to quickly remedy it proves essential to preserving the value of your home: problems with water cascade (pun intended) like none other.

For example, you should have a handle on the following questions (and these are far from exhaustive but a great starting-point):

• What type of foundation do you have?
  • Where are the drains for your foundation?
    • Consult the plans for your home (if available)
  • What are signs for your type of foundation of leaking water?
    • How do you fix it?
• Where are your gutters?
  • Where do they send water during rain?  
    • Does it pool around the home?
• Is the flashing around your windows intact?
  • Do you know how to inspect for leaks around windows?  
• Is your home in a valley, into which water flows, or on top of a hill, from which water drains?  
  • Is there a high water-table?
  • Do you have a sump-pump?  
    • Do you know where it is and to where it drains?
• Are there any drains in your yard, to help direct water away from your home?  
  • Are they clogged?
• What kind of roof do you have?
  • Short eaves
    • less protection from rain than roof with long eaves
      • Drainage sufficient?
      • Flashing and "kick-outs" installed, properly?
    • Double-check windows for water infiltration, as shorter eaves make windows more vulnerable
  • Long eaves
    • Drainage intact
    • Flashing intact
• Can you recognize signs of a leaks in a kitchen and bathroom?
  • What are signs of failed tile grout?

For most homeowners, the issues above require a professional’s attention, BUT catching these problems early and having the necessary understanding to keep the contractor’s work in scope and budget will pay-off, without requiring you pursue a second career as a home maintenance contractor.

Conclusion

To grow wealth with your home, learn to sand and paint yourself and also how to quickly identify minor water problems in your home, before they become costly disasters.

Between keeping your home looking fresh, protecting the surfaces of your interior and exterior, and avoiding costly water damage, you have, with just a small investment of time, turned your home from a potential money pit into a stable and sustainable asset.