As soon as you are handed the keys to a new building, you need to start thinking about ways that you can protect your investment. Minor issues around your property can quickly turn into financial nightmares, and your insurance might not cover all of those liabilities. Here is a look at four steps that you can take to protect your building and its occupants.
Install a Sump Pump
Even if you don’t live in a flood zone, you should still think about installing a sump pump in your basement or lowest floor. In addition to reducing your risk of water damage, one of these devices might also help to prevent a building fire. When live wires come into contact with standing water, it could result in a major structural fire that does an incredible amount of damage. Sump pumps can usually be installed in a single afternoon with nothing more than a few basic tools.
Replace the Windows
While replacing your windows might seem like a major investment, it could actually increase the value of your building by a substantial amount while helping reduce utility costs. Modern windows are designed to repel UV rays and prevent moisture from getting into a building. They are also much harder to shatter, and that will make it more difficult for a criminal to break in. While you might be able to install new windows on your own, this project can be difficult if you don’t have the right tools and plenty of experience.
Recoat or Resurface Your Roof
Upgrading or recoating your roof is another simple project that can drastically impact the value of your property. A team of professional roofing contractors might be able to recoat your roof in a single day, and you should notice changes to your monthly energy bills almost immediately. Recoating or resurfacing your roof will also cover any openings that could let in moisture during the next rainstorm. Be sure to contact your local roofing professionals for expert advice.
Add Vinyl Siding
If you have been thinking about improving your building’s exterior walls, then you should take a closer look at vinyl siding. Sheets of vinyl are very affordable, easy to install, and highly durable. Your new siding could last for multiple decades as long as the sheets are installed correctly, and you might even notice some improvements to your monthly energy bills. Better insulation means less energy toward heating and cooling your building.
Whenever you carry out any major property upgrades, you should always contact your insurance provider to see if your coverage needs to be changed. Some of these renovations could bring your premiums down by quite a bit, and that might save you a few hundred dollars a year.