The expenses don’t end when you buy a house. In fact, they’re just beginning! Homes require upkeep and regular maintenance.
You might not take this into account when purchasing a home, especially if you’re moving from an apartment where maintenance and upkeep is largely handled by the property owner. This can result in surprise or even alarm when it’s time for some routine maintenance or for a key appliance to get replaced.
More than 80 percent of homebuyers are hit with a significant repair within the first year of ownership and feel underprepared for the overall cost of home repairs, according to data from insurance company Hippo. Data from Clever found that the average American spends over $3,000 per year on maintenance and repairs.
During the pandemic, we all spent more time at home. We also put more wear and tear on our homes, meaning more maintenance in general. Unfortunately, the cost and access to the supplies and tools needed to do that maintenance has surged due to supply chain issues. That paired with the increased number of extreme weather conditions that have occurred in recent years has led to an increase in the repairs being performed and a rise in the overall cost of those fixes, according to home services company Angi’s most recent “State of Home Spending” report.
Below are some of the most common ongoing costs of homeownership. These are the regular maintenance expenses you can count on running into and will want to prepare for.
1. Lawn care and landscaping
Lawn care is one of the most time-consuming parts of home maintenance. For many people, it also feels like one of the most important because it is the part of your home that people see first. HomeGuide found that the average American spends about $1,200 to $2,400 per year on lawn care and landscaping. Most of that is tied up in mowing, watering, and general landscaping like tree trimming and gardening.
2. HVAC cleaning and maintenance
Air quality matters in your home. Giving your HVAC system a regular cleaning helps in this regard. According to Home Advisor, the average cost of cleaning your air ducts comes out to $376. While you should only need to do full cleaning once every five years or so, some smaller maintenance and replacing filters make breathing easier at home.
3. Clearing rain gutters
It’s important to clean your gutters to prevent damage to both the interior and the exterior of your home. If gutters get blocked by leaves and debris, you may end up with water overflow that risks damaging your roof and walls of your home if water builds up in places it isn’…….
Source: https://www.bankrate.com/homeownership/most-common-home-maintenance-costs/