Homeownership entails additional costs than just the loan, insurance, and household bills. Unfortunately, there are a variety of components of your house that will not last a lifetime. And unlike being a tenant, you do not have a landlord to manage your house repairs. So it will help if you are ready for shortcomings and the need for repairs and maintenance.
But how can you know how much money to set aside for house repairs? The one-percentage-point principle is a solid place to start. It entails putting away a percentage of the total purchase price of the house for maintenance and replacement expenditures.
Budgeting for Your Home
The general rules, however, might not always be appropriate for everybody. Other considerations, such as the age and characteristics of the property, influence how much money you should set aside for repairs. We’ll go through the most cost-effective renovation practices and how they can help to fine-tune your numbers.
Roof
If you believe you can safely accomplish this task, you can examine your roof for missing or broken slates or tiles and repair or replace them as soon as possible to minimize any drainage problems. Check for fractures in the vent and deteriorating masonry if you have a chimney.
If you cannot do it yourself, your trusted residential roofing services can help you repair whatever needs fixing. These firms offer affordable solutions and provide innovative alternatives if necessary.
Gutters and Drains
The first step is to eliminate any leaves and other waste that could have landed into your downspouts. In doing so, you can prevent water from overflowing. Check and unclog your pipes as often as necessary, and be cautious of what you drop down the sink.
Doors and Windows
If possible, refinish or repair any broken fittings and repaint your exterior doorways. Lubricate gaskets and hinges to prevent them from sticking. Are all of your windows sealing in good condition? Make sure there are no leaks.
Bathroom
Missing sealants around the bath or shower areas could cause a significant drainage problem in your toilet and the floors below. Thus, it’s best to repair anything that seems outdated. Also, keep an eye out for any wet spots or molds on the ceiling in the floors below.
Experts also advise regular inspection of grouts surrounding your tiles. Proper maintenance in this area can keep your flooring looking new while extending its lifespan.
Fireplace
If you happen to have a fireplace, ensure to check for any damage and get a professional evaluation for safety. Consider getting the drapes and carpets deep cleaned to help them look new and to remove any unsightly stains. Remember to clear up those dusty light fixtures.
Bedrooms
These rooms should need regular cleaning and consider professional care for carpet and drapes in terms of maintenance. If necessary, flip your mattresses regularly.
Walls
Almost any person can repair nail holes. Filling unsightly holes is a simple technique to make outdated drywall seem like new. Fill up each gap with lightweight putty, then remove the remainder off the walls using a spackle knife. Wait for the plaster to cure before sanding the area smooth.
Then, using a primer, paint over the mended areas. If there are bigger holes in the drywall, it is necessary to call in a professional to guarantee the seams are invisible once coated with paint.
Electrical Fixtures
Electrical maintenance and installations are, at best, prohibitively costly. Investing a little time in researching and understanding your electrical supply can provide you with the knowledge you need to tackle various electrical work on your own.
Low voltage jobs, such as fixing a light fixture, can be safely completed by a homeowner since they are less prone to trigger structural or personal injury. That said, if you are uncertain of your expertise or competence or if your job involves more than 50 volts, it is preferable to hire a professional.
Final Thoughts
Although the above recommendations are by no way thorough, they can provide you with the motivation you need to begin addressing those projects you’ve been pushing off for seasons, if not years. You might even discover that you like it.
Many property owners have no clue how much money they should set aside for house maintenance. And the one percent rule is merely a starting point. However, it is not without flaws. You might find it helpful to learn about the proper preventive maintenance approach to avoid significant repairs that lead to costly expenses. With enough knowledge, you can easily handle your house’s seasonal care in no time.
