There is no denying that owning a home is not a cheap endeavor. Once you have purchased the property, you are on the hook for keeping it well maintained. This is why it is important to work in the cost of home maintenance into your overall household budget. Some repairs and replacements can cost thousands of dollars, potentially putting a big dent into your wallet.
Savvy homeowners understand that they can trim these maintenance costs with a little research, planning, and willingness to do some of the work themselves. Here are a few ways that you can cut your home maintenance budget.
Do the Work Yourself
The single most impactful way to save money on home maintenance is to do it yourself. While this is not always possible for the more complicated job, teaching yourself to do the simple tasks can yield significant savings over time.
With so many online tutorials and videos now available, it is easier than ever to teach yourself how to perform tasks such as snaking a drain or hanging up drywall. Even the easiest home maintenance duties can cost a lot of money in service fees. You may be surprised at how much you can save by learning some basic handyman skills.
Hire the Right Professional
There are likely going to be some tasks that will require the services of a professional. You are likely to save a considerable amount of money as well as some headaches if you do your due diligence in hiring the right professional. Keep in mind that the lowest price is not always the smartest choice. Do not go cheap by hiring a contractor that is not properly licensed or insured. This extra layer of insurance can save you from having to invest more money to fix a poorly done job.
Asking people that you trust for recommendations is a good first step. From there, you can research credentials and narrow down your options.
Reduce Energy Expenses
Reducing your energy expenses is a smart way to save money immediately while also preventing more costly repairs in the future. For example, changing the filter on your air conditioning unit will not only save you money on your cooling costs each summer but it will also extend the lifetime of your HVAC system. Set a timer on your calendar to remind you to perform this easy home maintenance task according to the manufacturer's recommendations.
Other good ideas to cut your energy expenses is to install a programmable thermostat in your home or put in storm windows. The cash that you save on these upgrades can then be funneled into your home maintenance budget.
Do Not Ignore Preventative Maintenance
It may sound like a tired cliche but it is true that an ounce of prevention is worth a pound of cure. The little preventative measures may ding your pocketbook now but they will save you exponentially in the long run. Good preventative maintenance projects to put on your to-do list include cleaning out gutters, staying on top of pest control, power washing mildew off the roof, repainting the exterior of the home, replacing the batteries in the smoke alarms twice per year, sealing cracks, and more.
Do not put off until tomorrow what you can do today. Some homeowners find it helpful to set up an annual checklist to perform these tasks at regular intervals.
Set Up a Dedicated Home Maintenance Account
You are not alone if you find yourself scrambling to find money to address home maintenance issues as they come up. It is always prudent to set up a dedicated home maintenance account that you can draw from for both emergencies and for scheduled preventative maintenance tasks.
Most homeowners find that they will need to set aside more money for older homes when compared to new construction. Setting up automatic transfers with each paycheck will ensure that you do not spend the money on something else. You will feel more peace of mind knowing that you have this money set aside for emergencies.
Home repairs can cost upwards of thousands of dollars. While there is no getting around all of these home maintenance needs, the right approach can help to cushion the blow to your budget.
