When looking for a new home to buy, one of the things that may come up during the search is deferred maintenance. When a home has deferred maintenance, it can have a big impact on the homeowner. But just what is deferred maintenance? This guide will explain what deferred maintenance, and what it means for buyers and sellers alike when dealing with a home that has it.
What Is Deferred Maintenance?
Deferred maintenance on a home is exactly what it sounds like: when a homeowner continually postpones necessary repairs, resulting in the home to fall into disrepair. This is often done in order to save money, stay underbudget, or simply because they can’t afford to have their home repaired. Examples of deferred maintenance include things like: