By Emily Davis
How much should i budget for home maintenance?
Generally speaking, you should expect to spend between 1% and 4% of your home’s value each year for maintenance. This means that if the cost of your home is $200,000, you’re looking at spending anywhere from $2,000 to $8,000 a year on upkeep.
Don’t confuse home maintenance with major repairs
That could be a mistake when trying to budget
When we talk about how much money to budget for home maintenance and repairs, we’re talking about run-of-the-mill upkeep and general wear and tear. That includes things like:
- mowing your lawn and treating your grass,
- cleaning your siding,
- power-washing your deck or patio,
- sealcoating your driveway,
- cleaning out your gutters and vents,
- replacing filters on your heating and air conditioning units,
- fixing leaky faucets,
- swapping out rusted fixtures, and
- having kitchen or laundry appliances serviced.
Resources you can use
When it comes to home maintenance it can seem a bit overwhelming. So to make things a little easier we have compiled a list a home maintenance tasks that need to be completed and when they should be executed.