Is the weight of owning a home through winter too much to carry?
Earlier in the month we released an article detailing all that can befall an old home in the harsh winters of Manitoba. For many burdened by a rundown property, there were enough reasons detailed within to have them unload the square footage and head for a condo. However, there is certainly more to the equation. If you’re on the fence about what exactly is involved in owning an old house in the winter, which lasts from four to six months in Winnipeg, we suggest you keep reading.
3 Burdens of Owning anD Maintaining an Old House ThRough Long Winnipeg Winters
1. The Cost of Damage & Disrepair Common to the Season
There are some very direct concerns faced by owners of older homes in the winter. These include the following:
- Air leaks leading to water damage (from freeze-thaw cycle)
- Frozen pipes leading to leaks/bursts and thus water damage
- Ice dams leading to (you guessed it) water damage
- Roof collapse from snow accumulation
- Furnace malfunctions leading to risk fire and carbon monoxide poisoning
- Pest infestation (winter hibernation)
All of the above lead to considerable costs for repair and replacement, many of which are unavoidable to make the space livable at the bare minimum.
2. The Massive Cost of Paying Utilities Through the Season
Some of the items addressed above, including air leaks and poorly functioning furnaces and/or HVAC systems, make it hard to properly heat and promote favorable air circulation in an old house in the winter. The cost typically increases (from spring/summer) by over 700%! The more square footage the more burdensome that cost will be. When you consider that cold to freezing temperatures persist for about four to six months per year, you can see how much money you’re throwing out of the window.
3. Homeowner Insurance and Liability Risk Increases During the Season
The more damage your property sustains with each passing winter, the more your insurance coverage is tasked. While insured, you’re looking at inflated deductibles and premiums. This is compounded further by the vehicles parked on the property. Given that older homes don’t provide adequate conditions for storing automobiles in aged garages and/or carports, the condition and operation of your vehicle is influenced, which will then have a negative impact on your auto insurance too.
Then, there is an even more grave concern. An old home in disrepair is a hotbed of liability risk to third parties and adjacent homeowners. If you do not properly maintain the sidewalks, pathways, and landscape that surround the property, slip and falls become a threat as snow and ice build. In addition, widespread snow accumulation on the roof and gutters in addition to the fire risk posed by malfunctioning furnaces can directly result in damage and injury to your neighbors and their houses. Unless you have a very robust homeowners insurance and liability policy (uncommon to old rundown houses) you face tremendous financial risk.
Don’t let another winter season pass without relieving your burden. Sell your old house, regardless the condition, for market value today. Contact 5 Day Cash Offer at 204.222.0022 to get cash in hand for your property before the next major snowfall adds to your list of worries.