What should you save each year for maintenance on your home?

Some specialists recommend setting aside between 1 and 2% of the purchase price of your home each year for routine maintenance projects, such as roof repairs, gutter cleaning, sewer upgrades, or new appliances, each of which can cost several thousand dollars. For gutter cleaning services you should consider hiring a professional one like Gutter Cleaning Toms River NJ to prevent further damage.

 

If 2% seems like too much, consider starting with less and increasing. Too little can cause concern more quickly than an unexpected home repair. From the roof to the oven (and every appliance in between), repairing or replacing the main components of a home can cost several hundred or thousands of dollars.

While homeowners can't avoid home maintenance or upgrades, they can help prevent those financial surprises by preparing ahead of time for the inevitable solutions. Here are some important things to consider and plan for. It's one thing to know how long something will last, but quite another to know how much to save. In general, it helps to prioritize based on age.

For example, if your roof is 20 years old, it's probably only a few years old before you need to invest in a replacement. When it comes to a 5-year-old oven, on the other hand, you may not need to save for another decade. If you have high-end finishes and appliances, Anderson said the maintenance costs would be higher than for another house with low-end finishes and appliances, even if the two houses were similarly sized. The maintenance of the summer house can be done by checking the appliances, taking care of the outside of the house, being safe in the garage and taking care of the garden.

However, you can weigh a number of important factors and have an idea of what your annual home maintenance budget will be. Newer homes, on the other hand, required less annual maintenance because the materials are obviously newer and many items in the house may still be under warranty. If you're wondering how to calculate property maintenance costs, the square foot rule can be useful and is another very easy way to save money for home repairs and maintenance.