Maintaining Your Property in Saint Lucia

Maintenance of Your Maintenance of Your Property Property

Prepared by ECMC LtdPrepared by ECMC Ltd

4 Reasons to Maintain Your 4 Reasons to Maintain Your Property Property

1. To prevent small defects from becoming major repairs – this minimises the cost of repairs;

2. To protect your financial investment -i.e to retain the value of your property thereby reducing repairable depreciation;


3. To maintain a healthy and safe environment of your property.

4. To enhance curb appeal – if/when selling, this has a positive impact on both the buyer and Valuer;


2 Basic Types of Property 2 Basic Types of Property Maintenance Maintenance

1. Planned (or preventive) – this consists of periodic repairs to ensure reliable operation of the building’s components;

2. Unplanned (or corrective) - this comprises reactive works as a result of breakdown & routine failure of the building components.Prepared by ECMC LtdPrepared by ECMC Ltd

How much to Budget for How much to Budget for maintaining your maintaining your

Property ?Property ?Every property is different so there’s no generic budget to set aside for maintenance & repairs of a house; however, many international bodies & lending agencies suggests an annual amount of 1% to 3% of the current value of the house (depending on the age of the house).


By how much does Maintenance By how much does Maintenance increase the value of your increase the value of your

Property?Property?

There is no research/information for St Lucia or the Caribbean; however, research for more developed countries suggests that maintenance increases the value of the property by 0.5% to 1.0%.


Need Assistance in Estimating Need Assistance in Estimating the Maintenance Cost of your the Maintenance Cost of your

Property?Property?

Contact ECMC Ltd today for a consultation on Maintenance and/or Valuation for your property


Maintaining Your Property in Saint Lucia

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