If you’re hoping to live in your home for years to come, then you need to maintain it. Studies show that most homeowners spend around $1,100 on regular maintenance costs each year, as well as an additional $416 on emergency costs.
However, budgeting for the cost of home maintenance can be a challenge, especially if you’ve just bought or built your home. It can also be difficult to know which areas of your home need maintenance.
That’s why we’ve put together this guide—to help you out on your home upkeep journey. So what do you need to know?
Keep reading to learn all about the average home maintenance costs that you can expect to pay each year.
Why Do You Need to Perform Home Maintenance?
Maybe you just built your home and you’re wondering why you need to perform any upkeep at all. After all—everything is new, right? What is there to maintain?
Despite what you might think, people perform home maintenance to maintain the current state of their property. That means that if everything is perfect, great! But you still want it to stay in that condition.
Home maintenance doesn’t include the cost of renovations or massive remodels. It focuses on simple, routine maintenance that will help spot problems and prevent them from getting worse.
There are some instances when maintenance and renovations might overlap, however.
What Does a Home Maintenance Budget Include?
The exact things that you’ll have to spend money on maintaining depend on your home. However, some common interior maintenance points include:
- Getting your HVAC system inspected
- Cleaning garbage disposals
- Servicing kitchen appliances
- Testing smoke detectors
- Turning on faucets that you don’t often use
- Repairing grout cracks
- Fixing loud or squeaky door hinges
Likewise, with regards to the exterior of your home, you’ll want to:
- Maintain your deck (sealing, staining, etc.)
- Trim trees and shrubs
- Apply a fresh coat of paint when necessary
- Mulch and tend to plants when necessary
- Empty yard drains
As you can see, most of the tasks that you need to do each year are relatively simple. That doesn’t mean that you can get away with not doing them!
How Much Should You Budget for Home Maintenance?
As mentioned, home maintenance costs hover around $1,100 a year for the average homeowner. There are some more precise ways to calculate what you can expect to pay, however.
Many experts recommend budgeting out $1 per square foot to put towards your annual costs. That means that if your home is 3,000 square feet, you might end up paying around $3,000 a year on upkeep.
Make sure to also have some emergency funds set aside for bigger products. This can include things like replacing an appliance, repairing your HVAC system, or replacing your roof.
Factors That Affect Maintenance Costs
Aside from thinking about the size of your house, you’ll also have to take some additional factors into consideration. These can further affect the price that you end up putting towards maintenance each year.
The Climate You Live in
Do you live in sunny Arizona? If you do, the maintenance costs that you have are going to look different than those of someone who lives on the coast of Maine.
Homes by the sea need to be able to withstand a lot of salty air. That means that you might have to put extra money towards repairing corrosive damage on your siding, roofing, and fences.
People who live in places with harsh winters can also expect some higher exterior maintenance costs.
The Age of Your Home
It’s a simple fact that modern building materials and construction techniques are better than older ones. If your home is more than a decade or two old, expect to have to pay more for upkeep.
Aside from that, all homes will also have to perform certain types of maintenance every several years. This includes things like replacing old appliances, taking care of your pipes, and upgrading or replacing your roof.
You’ll also have to maintain and upgrade your HVAC system from time to time, especially if it begins to act up. Check out this guide to learn about what to do when your air conditioner overheats.
How Many Levels Your Home Has
Is your home on a single level or divided among four different ones? Homes with multiple levels often end up paying more for maintenance each year.
Basements are often prone to flooding and water damage. Make sure that you treat those sorts of problems early on, as they can get worse and ultimately cost you an exorbitant amount of money.
Attics can also suffer different forms of damage, especially if your roof has problems. Water can leak in and cause damage to your entire home.
Kids and pets certainly add life to a home, but they also tend to cause damage, no matter how well-behaved they are.
As a general rule of thumb, the more non-adult humans you have in your household, the more you can expect to pay each year on home maintenance.
Be Aware of the Cost of Home Maintenance
If you’re looking to give your home the love and care that it needs, sometimes it can be difficult to know what to do, as well as how much everything will cost. Use this guide to predict the cost of home maintenance that you can expect to pay, as well as which areas to pay attention to.
Your home will thank you!
Do you now have a better idea of how to make a home maintenance plan or budget? If you do, make sure to check out some of our other posts for more home-related guides and tips.
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