Home maintenance isn't sexy but it is important, and with consistent maintenance you can save time and money. How? When you seal a deck, you're protecting the wood from the elements and it will last longer. When you scrape and paint exterior wood trim, you avoid having to replace the wood and worse, making repairs to hidden wood rot.
Maintenance – Any repairs or general upkeep done to preserve the present condition of a property.
Mansard Roof – A type of roof containing two sloping planes of different pitch on each of four sides. The lower plane has a much steeper pitch than the upper, often approaching vertical. Contains no gables.
Margin – A fixed amount that is added to the index of an adjustable rate mortgage to determine the interest rate at a given time. For example, if an ARM has an index of 6% and a margin of 2.75, the interest rate is set at 8.75% (6 + 2.75).
Market value – Also known as fair market value. The price that a property can realistically be sold for, given the selling price of other comparable houses in the area.
Masonry – Brick, stone, concrete, etc., or masonry combinations thereof, bonded with mortar.
Membrane – A flexible or semiflexible roof covering or waterproofing, whose primary function is the exclusion of water.
MERV for minimum efficiency reporting value – helps you identify the best air filter for your heating and/or air conditioning system.
Metal Flashing – Frequently used as through-wall, cap- or counter flashing.
Metal Flue – A metal channel through which hot air, gas, steam or smoke may pass.
Metal Insulation Supports – Sixteen- or 24-inch wire rods or crisscrossed wire to hold floor insulation in place.
Mildew (Mold) – Surface mold, often a green-black loose powdery mass. May occur on both interior and exterior surfaces and is evidence of improper ventilation or condensation.
Mineral Spirits – A refined petroleum distillate have a low aromatic hydrocarbon content, with volatility, flash point, and other properties making it suitable as a thinner and solvent in paints, varnishes, and similar products.
Mole Run – A meandering ridge in a membrane not associated with insulation or deck joints.
Mosaic Tile – Ceramic tile having a facial area of less than 6 square inches
Mortgage – A conditional contract in which a property is given as security for the repayment of a loan.
Mortgage Broker – Mortgage brokers act as intermediaries between lending institutions and borrowers. Most brokers have access to a wide variety of lenders and can often find loans with lower interest rates than you might otherwise find. They can also save you time searching for a loan that fits your needs. However, brokers often charge higher points than lenders.
Mortgage Interest – The amount of money the borrower pays the lender to compensate the lender for the use of its money to purchase the borrowers home. This interest is tax deductible.
Moisture on Windows – Inefficient windows or high indoor moisture levels from air leaks can result in condensation, frost, or pools of water on windows and sills.