Study calls on homeowners to stop falling for growing trend putting properties at risk: '[It] can lead to bigger, more costly repairs'

New research from the home insurance industry showed that a growing trend in houses is costing homeowners big money. 

What's happening?

According to RealEstate.com.au, the growing trend of focusing heavily on home aesthetics to craft picture-perfect interiors inspired by social media has led to a prioritization of appearances over functionality and necessity, potentially creating bigger problems.

Homeowners are also more visually concerned than practically concerned, leading to future issues with performing routine maintenance. 

This can drive up the cost of home insurance or create bigger issues for both insurance companies and homeowners down the road.

According to the Allianz Home Care Report, 39% of homeowners prioritized visual appeal over practicality, and 35% focused on adding personal touches to their homes over performing routine maintenance. 

Why is this important?

When homeowners prioritize aesthetics and personal touches over practicality, they increase the risk of something serious going wrong. And when it does, if routine maintenance hasn't been done, or if the home has been designed in an aesthetically pleasing way that sacrifices functionality, insurance claims could be rejected. 

"Delaying maintenance can lead to bigger, more costly repairs," Allianz chief claims officer for general insurance Luke Whenman said, while noting that most policies exclude damage from typical wear and tear, like mortar or roof tiles breaking down due to lack of repair or maintenance. 

On top of that, while your renovations may look good, they could harm your home's energy efficiency, driving your energy or water bills higher. And in an era with more and more severe weather, neglecting routine maintenance increases the chances that your home suffers severe damage that won't be covered by your insurance policy.  

What's being done about this?

Allianz encourages people to balance home repairs between aesthetics and practicality, prioritizing routine maintenance to ensure that everything keeps working the way it should.

They caution against cutting corners by dodging permits and licenses, and advise checking with your insurance company before starting any major renovations.

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