One of the most exciting times of your life is when you purchase a home. There are a lot of things you need to prepare for apart from the cost of the home. Owning a home means you are responsible for its maintenance and repair and that translates to one thing – expenses. Some maintenance and repair costs can be inexpensive but you still need to prepare for it.
Why allocate a budget for home maintenance and repair?
According to experts, it is necessary to allot funds for home maintenance and repair, apart from your emergency fund, so you will be guaranteed that your home will stay in excellent condition throughout the year. How much should you allot for this? The answer to this question depends solely on the age of your home and its condition. If your property is less than 5 years old and in great condition, then you can allocate a lesser amount for this. However, if you have been living in your home for more than a decade, then you should allocate around 4% of your income for this as you may need more maintenance for your home.
How to save on your home maintenance?
You have invested your hard-earned money in your home so it is necessary to protect your investment. Maintenance and home repair is necessary from time to time to ensure the highest quality of comfort for your family. So, how can you save money on your home maintenance?
Keep track of your home
If you have been living in your home for several years already and you had spent on its maintenance and repair before, then it’s best to list them down. It is good to keep a record of your home maintenance and repair expenditures as it will give you an idea of the areas of your home that might not be in great condition and needs repair soon. If you are about to buy a home, make sure to have a full inspection to determine the age of the parts and materials used.
Deal with issues right away
Delaying repair is one of the reasons why home furniture and appliances break and are deemed unusable. Take home-maintenance seriously. Whenever you notice a sign of a problem, deal with it right away or contact an expert to have it checked thoroughly. Learning the basics of home maintenance also helps a lot in repairing simple home issues. However, calling a professional help is also a smart move especially if you believe it’s out of your abilities.
Let your house be your home and make sure you do your best to make sure it is secure and a comfortable place to stay. Remember to always set aside funds for home maintenance and repair costs because you’ll never know when you will need it.