Home Repair Costs and Buying a Home

Lowering your Household Management Costs

Home Repair Costs Buying a home can incur numerous costs in addition to the down payment. You'll need to pay for closing and inspection fees as part of the up-front payment. Yet when budgeting for a new home, homeowners must also think about the cost of maintenance and repairs over time. There are some agents who recommend setting aside as much as 2% of the home's total value each year to help pay for these costs. With some basic low cost maintenance and precautionary measures, however, you can help save yourself hundreds if not thousands of dollars each year. Maintenance involves a small investment, but it helps prevent the need for more costly future repairs. The following are a few areas to pay attention to.

Extend the Lifespan of your Roof 

The roof is your barrier against the elements, so it's important to choose the right type of material. Some of the materials with the highest longevity include concrete, slate, and copper. These materials can last up to 50 years, while something like asphalt only lasts for two decades and must be replaced. To further maximise this lifespan, homeowners can coat the roof with waterproofing materials. Keep the roof and gutters clean and avoid walking on it to help keep it in top shape.

Regular HVAC Care 

Your heating and cooling system is another area to pay close attention to. With proper care, a new HVAC system will last for 25 years. Yet many homeowners find themselves shelling out for a new boiler or air conditioner much sooner, which can be a major household expense. Clean boilers on an annual basis to remove build-up that keeps them from running efficiently. Scheduled maintenance checks can pick up on small problems early before they turn into larger issues. During these maintenance checks, the technician can also give you a boiler status update so that you can budget for a new unit in the future, rather than cope with a surprise breakdown. Changing filters regularly costs very little money and goes a long way towards keeping your heating and cooling units in top working order.

Plan for the Elements 

If you buy a house in an area of the world known for tropical, cold, or wet weather, you'll need to prepare the house thoroughly. Water damage can be a huge expense to a homeowner, particularly if it strikes the structure and foundation of your home. Prevent both interior and exterior damage by cleaning your gutters before the rainy season commences, so that your gutters are able to siphon water away from the home without hindrance from blockages. Waterproofing the exterior of your house and patching leaks promptly can help you avoid rotted wood that eats away at the core of your home. It may be easy to ignore what seems like a small drip in a quiet corner of the home, but leaks can lead to serious drywall damage over time.

Simply taking the time to give all of these areas of your home some basic maintenance and care will help ensure that it stays in top shape over the years. This will lead to lowered repair bills and a higher home value when the time comes to sell in the future. Although maintenance requires some fees, it's better than being surprised by the high cost of an unexpected system replacement.

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