Spring/ Summer Home Maintenance

 Before anyone, decides to, seek the so - called, American Dream, of home ownership, he should, look ahead, with his eyes, wide - open, and consider, the responsibilities of being a homeowner. Since those, who purchase real estate, for investment purposes, factor - in, effectively, as many foreseeable expenses, and expenditures, as possible, before deciding if it's a wise investment, wouldn't it make sense, for those purchasing, a house, to have a better idea/ concept, of some of the financial responsibilities, it involves? While nearly all, realize the monthly costs, associated with mortgage payments, including principal, interest, real estate taxes, and many escrow items, they seem to pay, far too little attention, to many of the other costs, associated with home ownership. While some, try to procrastinate, and therefore, often overlook, properly preparing, for many of the eventualities, smart homeowners break up, these possibilities, in order to effectively plan, to become better prepared, While there are many approaches and possibilities, this article will attempt to briefly, consider, examine, review, and discuss, a seasonal approach, to planning. This article will examine the preparations, and smart plans, for Spring and Summer planning and maintenance.

1. What/ Why, Spring Cleaning?: We've all heard of Spring Cleaning, but, when was the last time, you considered, why we do this, at this specific time of year. In most areas of the country, we experience four seasons, and, the most severe, is Winter. The low temperatures, ice, snow, and other weather conditions, often, create a wide variety of stresses and strains, on both a house, and the related, exterior components, and grounds! We drag in a wide variety of substances, on our shoes and coats, including snow, ice, salt and sand, etc, as well as leaves, which may get blown into the home, also. When the temperature changes, and we wear different clothing, often accompanied by changing - over our closets, most people feel elated, to be rid of the cold, severe weather, and our dispositions brighten. When we clean the houses, thoroughly, inside, and outside, we become capable of evaluating, the best way, to properly maintain our property. Spring is usually the best season for exterior painting, addressing issues related to concrete, on walkways, and foundation, and preparing our gardens and grounds, in order to beautify the grounds.

2. Specifics: The specifics of maintenance and repair, for this season, is creating a schedule, for specific items, and preparing a realistic reserve, for these purposes. Items, such as exterior painting, maintenance of decks and patios, etc, should be scheduled, on a realistic schedule. Additional reserves should be put aside, for caring for the air conditioning, window - screens, etc, so there are fewer unforeseen surprises!

3. Enjoy the house: Enjoy your house, to its fullest capacity, while avoiding being house - rich, but consumed, by a so - called, money pit. When you prepare, and maintain your property, on a realistic, smart schedule, you significantly reduce many of the stresses and strains of home ownership.

Real Estate Investing and Property Management

 Residential property management in West Chester, PA involves serving two different rental communities.

The first community includes students who attend West Chester University. As certain geographic areas of West Chester do not allow student rentals, it is very important that you make sure what part of town your investment property is located. Student housing is very time consuming for property managers and requires extra man hours to serve their needs. For example, with student housing we get calls to change light bulbs, remove snow or ice, clean rooms and many other requests that we typically do not get from non-student tenants. As an investor you want to make sure that you have a property management company in West Chester, PA lined up to handle these issues or be prepared to handle them yourself.

Also, with student housing you will get a lot of turnover and most students stay one year and move out. So be sure to plan high tenant turnover when considering investing here.

The second community in West Chester, PA is non-students. This may include individuals that live in this very popular community or in some cases people that work at West Chester University. These types of tenants tend to be more mature and easier to manage the properties in which they reside. Additionally, they tend to pay rent on time and do not need nearly as mush maintenance or attention. As an investor this may be the better option, but these types of investment properties tend to cost more per unit.

The good news is non-students may live in your investment property for many years and reduce your vacant time.

West Chester, PA is a very popular community with lots of shops and restaurants in the downtown section. West Chester, PA is also the home of QVC, one of the largest employers in the area.

This town continues to be a very hot market for both sales and rentals. The average sales price for home as of November 2018 is $414,100. The average sales price is up 3.4% over the last year. The rental market is also seeing nice price appreciation. The average rental is $2,242 per month and is up 1.5% over the last month. This compares to the average rental in Philadelphia of $1,581 and nationally of $1,449. Given the strong popularity and strong employment in the area I would suggest this a great place for real estate investors to look for investment properties and above average returns.