Your home needs care just like you do. Put away some money each month to keep it healthy. Think of it like a piggy bank for your house. For a $300,000 home, save between $250 and $1,000 each month.

Parts of your home get old and need to be fixed or replaced. Your roof can last about 25 years. Your heating and air system works for about 20 years. The water heater runs for about 10 years.

Keep track of what you fix and how much it costs. This way, you won't be shocked when something breaks. When you plan ahead, small problems won't turn into big, costly ones. Taking care of your home is simpler when you know what to expect.

The True Cost of Homeownership

When you buy a home, you pay for more than just your mortgage. Think of all the other costs that come with owning a house. You need money for taxes, home insurance, power bills, and fixing things that break.

Each year, you might spend extra money – about one to four dollars for every hundred dollars your house is worth. This helps keep your home in good shape.

Your home needs love and care, just like a pet. Things like your air system, water pipes, and power lines need fixing now and then.

Small jobs like sealing windows or fixing drips can cost more than you'd guess. If you plan for these costs now, you can take good care of your home and keep more money in your pocket.

Common Home Repairs to Expect

Your home needs fixes just like we need checkups at the doctor. You might find drips from pipes or slow drains in your sinks.

When your heater or air conditioner breaks, you'll need to fix it fast to stay comfy. The base of your house and its roof can get hurt too, and you must fix them right away.

Rain and sun can harm the outside of your house, so take good care of the walls and rain gutters to keep your home safe and dry.

Plumbing and HVAC Issues

Your home's pipes and heating system are like the heart and lungs of your house. Taking care of them now helps stop big problems later. Still, you'll need money saved up for fixes and new parts.

Your pipes might drip or get stuck. Fixing a leaky sink or toilet costs between $150 and $800. The big hot water tank that gives you warm showers will need to be replaced after 8-12 years. A new one costs $1,000 to $3,000.

Your heating and cooling system needs care too. You must clean it each year and put in new filters. If it breaks, repairs can cost $500 to $2,500.

After 15-20 years, you'll need a whole new system. That will cost $5,000 to $12,000.

Get mortgage-smart in just 6 minutes

Get Mortgage Funding delivers easy-to-understand updates on home buying and financing options right to your inbox, so you can make informed decisions with confidence.

Subscription Form to Newsletter (Form no text uses Bricks ACSS Styling) Footer Sidebar

Send updates to my inbox

Structural and Exterior Maintenance

Your home's outside parts need care just like the inside. The weather and time can hurt your house if you don't fix problems when they show up.

Here are the big outside parts that need fixing:

Part	Problem	Cost
Roof	New tiles	$5,000-12,000
Base	Fix cracks	$500-3,000
Walls	Fix or replace	$3,000-15,000

Look at your roof for dips. Check the base for cracks. Watch for wet spots on outside walls.

You need to fix your roof every 20-25 years. The walls need work every 15-20 years. Fix any base problems right away.

Save some money each year for these fixes. Put aside 1-3% of what your house is worth. If you skip these fixes, your house can get weak and lose value.

Setting Your Monthly Repair Budget

Your home needs regular care, just like you do. Think about how much money you can save each month for fixes. For most homes, you should save between 1-4% of what your home is worth each year. This means if your home is worth $300,000, you need to save $250-1,000 every month.

Look at how old your home is to decide how much to save. Older homes need more care. If your house is more than 20 years old, save more money.

Make sure to save extra for big items like a new roof or air system. Keep track of what you spend on fixes for a year. This will help you know how much to save each month.

Remember that fixes cost more in some places than others, and some seasons need more work than others.

Emergency Vs Planned Maintenance

Your home needs two kinds of fixes: quick fixes and planned fixes.

Quick fixes are for big problems that can't wait. Think of a broken pipe flooding your home, or when the power goes out. These cost more money because they need to be fixed right away. Keep some money saved up just for these surprise problems.

Planned fixes are things you know will need to be done, like cleaning your gutters or painting your walls. You can pick when to do these jobs. If you plan ahead for these fixes, you can save money. Many people save up to 30 cents of every dollar this way.

Make a list of what needs to be fixed and when. Write down how much money each job will cost. This way, you can stop small problems from turning into big ones.

Your home will stay safe and comfy, and keep its worth too.

Seasonal Home Maintenance Schedule

Your home needs love all year round, just like you do! Let's break it down into simple tasks for each season.

In spring, check your house for any damage from winter. Clean out your rain gutters. Make sure your AC works before it gets hot.

Summer is the time to take care of your outdoor spaces. Fix up your driveway. Look at your deck to make sure it's safe. Keep your yard looking nice.

When fall comes, get ready for cold weather. Clean those gutters again. Check your heating system. Look for spots where cold air sneaks in around windows and doors.

In winter, watch out for ice on your roof. Look up there after big storms. Test your smoke alarms. Keep your water pipes warm so they don't freeze. Make sure your house can breathe to stop wet spots from forming.

Average Lifespans of Home Components

Your home is like a living thing with parts that need care and updating. Think of these parts as having birthdays – they get older and need to be replaced.

When you know how long things last, you can save money to fix them later. This keeps your home safe and working well.

These parts last this long:

Roofs:

• Regular black shingles: 20-25 years
• Metal roofs: 40-70 years
• Stone roofs: More than 100 years

Heating and Cooling:

• Heaters: 15-20 years
• Air units: 12-15 years

Big Kitchen Items:

• Hot water tanks: 8-12 years
• Stoves and fridges: 10-15 years

When you know these times, you can put money aside bit by bit. This way, you won't worry when it's time to fix something big.

Building Your Home Repair Fund

Your home needs fixing sometimes, just like you need a doctor when you're sick. Keep money ready for these fixes – about $1-3 for every $100 your home is worth.

Put some money away each month in a special bank account just for your home. Don't touch this money for other things. Think of it as your home's piggy bank.

Look at what might need fixing in your home soon. Are your roof and walls old? Start small by saving just $1 for every $100 your home is worth. Later, you can save more.

When you get extra money, like a bonus or tax refund, add it to your home's piggy bank.

When you save up like this, you won't need to borrow money when something breaks. You'll be ready, just like your smart neighbors who plan ahead.

When to Replace Major Systems

Your home's big parts need care, just like you do. A water heater works hard for 15 years. Your heating and cooling system lasts about 25 years. The wires that give power to your home can work well for more than 30 years.

Watch out for signs that tell you when these parts need help. Listen for weird sounds. See if they use more power than before. If you fix them too much, they might be getting old.

Look at these parts every spring and fall. This helps you know when they're getting tired. Then you can get new ones before the old ones stop working.

Expected System Lifespans

Your home's parts wear out, just like a favorite toy or pair of shoes. Knowing when things need to be replaced helps you save money.

Think about these parts in your home:

Cooling and heating:

• Air units work for 10-15 years
• Heaters run for 15-20 years if you take good care of them

Your roof:

• Basic dark tiles last 20-25 years
• Metal roofs stay good for 40-50 years

Big machines in your home:

• Hot water tanks work 8-12 years
• Your fridge keeps food cold for 10-15 years
• The dish cleaner runs 8-10 years

Start putting money away when these items get old. This way, you'll have enough saved when you need new ones.

Warning Signs of Failure

Your home talks to you when something is about to break. Listen for odd sounds from your heating and cooling system. Watch if your rooms feel too hot or cold. Check if your power bills go up a lot.

Your water heater tells you it needs help when the water looks brown, makes loud noises, or drips water on the floor.

Look at your roof too. Bad shingles that curl up or fall off mean trouble. If you see light in your attic or water marks on the ceiling, your roof needs fixing.

Keep an eye on your lights. If they blink or go dim, something is wrong. When power switches keep turning off or wall plugs feel hot, call for help.

Watch your water too. Slow water flow, pipes that keep getting stuck, or dirty water means your pipes need work.

If you catch these signs early, you can fix things before they break down completely.

Seasonal Maintenance Checks

Your Home Needs Care

It's good to check your home often. This helps you find and fix small problems before they get big. The best times to look are when seasons change, like spring and fall. These times can be hard on your house.

Look at these important parts of your home:

1. Heating and Cooling: Check your heater when fall starts. Check your air conditioner when spring starts. Does it make weird noises? Are the filters clean? Is it working well? Most last about 15 to 20 years.
2. Roof and Rain Gutters: Look at your roof twice a year. Check for loose or broken parts. Clean out leaves and sticks from gutters. Most roofs last 20 to 30 years.
3. House Base and Water Flow: Look for cracks in spring. Make sure water flows away from your house. Check your basement for wet spots. The ground near your house should slope away.

DIY or Hire a Professional

Fixing things at home can be tricky. You need to pick if you want to do it yourself or get help from an expert.

You can fix some things on your own. Things like painting walls or fixing a dripping sink are good to try. You can save money and learn new skills this way.

But some jobs aren't safe to do alone. Never try to fix wires or make big changes to your house unless you know how. These jobs can hurt you if you make a mistake.

When the job is hard, call someone who knows what they're doing. They cost more money, but they'll do the job right. They also follow the rules that keep your home safe.

Remember to think about what you can do well. It's better to ask for help than to try something that might break your home or hurt you.

Prioritizing Home Repair Projects

Your home needs fixing sometimes. Let's make it simple to know what to do first.

Think of your repairs like a list with three big groups:

Fix These First:

• Things that keep you safe, like bad wiring
• Leaky roofs that let water in
• Cracks in walls
• Black mold that can make you sick

Fix These Next:

• Check your heating and cooling
• Look for dripping pipes
• Clean your rain gutters

Fix These Last:

• New paint jobs
• New knobs for cabinets
• Pretty things that just look nice

Walk around your house each month. Write down what needs fixing. Put down how much it might cost and when you want it done.

This helps you spend your money wisely and not miss the big stuff that needs fixing right away.

Insurance Coverage and Repairs

When something breaks in your home, you need to know if your insurance will pay for it.

Look at your home insurance papers and find out what they cover. Some things, like a tree falling on your roof, they'll pay for. Other things, like fixing old pipes, you must pay for yourself.

Keep money saved for fixes insurance won't help with. If you need to ask insurance for money, take lots of pictures of what broke. Write down when it happened.

Tell your insurance company right away. The sooner you tell them, the better chance they'll help pay for the damage.

Insurance Policy Coverage Gaps

Your home is like a special place that needs care. Even when you have home insurance, it may not pay for all the fixes your home needs.

Take time to read what your home insurance covers. Many things that break in your home may not be covered.

Your insurance likely won't pay for:

1. Old parts that wear out, like pipes, wires, or roof tiles
2. Problems that happen when you don't fix small issues, like water spots or bugs
3. New parts the city says you must use when fixing damage

It's smart to save money for these fixes. Keep some cash ready for the times when things break and insurance won't help.

This way, you won't feel scared when your home needs work.

Claims Process Best Practices

When your home gets hurt, you need to tell your insurance friends right away. Take lots of pictures and videos to show what happened. Don't wait – call them as soon as you can. Most plans give you one or two months to tell them.

Write down every time you talk to the insurance team. Keep track of who you talked to and when. If you need to fix small things fast or stay at a hotel, save those bills.

Wait for the insurance person to look at your home before you fix big things. But do stop water or wind from making things worse.

Ask three or more fix-it pros how much repairs will cost. If the insurance team offers you money that feels too low, it's okay to say no. For big problems that cost more than $10,000, you might want to hire a helper called a public adjuster.

Red Flags to Watch For

Your house talks to you when something is wrong. You just need to know what to look for.

Look around your house often to catch problems early. This will save you money and keep your house safe.

Watch for wet spots on your ceiling or walls. These spots mean water is getting in where it should not. Water can hurt your house and make bad mold grow.

Listen to your heating and cooling system. Does it make loud noises? Does it turn on and off too much? These signs mean it needs fixing soon.

Check your house base, doors, and floors. Do you see cracks? Are doors hard to open? Is the floor not flat? These things show your house might be sinking.

When you see these signs, fix them fast. They tell you your house needs help.

Preventive Maintenance Saves Money

Your home needs your loving care to stay healthy.

Look around your home each month to find small problems before they get big. Check your roof, basement, pipes, and wires. Fix tiny leaks and loose wires right away. This will save you money.

Get help from experts once a year to check your air system and water heater. This will make them work better and last longer.

Small fixes now stop big costs later.

Regular Inspections Prevent Problems

Your home needs your love and care to stay healthy. Just like going to the doctor, your home needs check-ups too. When you look at your home often, you can fix small problems before they get big and cost lots of money.

Look at these parts of your home:

1. Check the base, walls, and roof for cracks or wet spots
2. Look at the heating, water pipes, and power for any breaks
3. Make sure windows and doors close tight and keep rain out

Take time four times each year to walk through your home and write down what you see.

Many people who do this save money and feel good about their homes. It's better to find problems early than wait for them to get worse.

Tackle Small Issues Early

Your home is like a friend who needs care. When you see small problems, fix them right away to avoid bigger headaches later.

Think of a dripping tap. It's not just water going to waste. That drip can hurt your cabinets and make black spots grow on your walls.

A few broken roof tiles mightn't look bad now. But when rain gets in, it can hurt your whole house.

Keep a list of what needs to be fixed. Take one day each month to look around your house and fix small things. This way, you take good care of your home, just like other smart homeowners do.

Fix it fast, fix it small – that's the best way to keep your home happy and strong.

Schedule Annual Service Visits

You want your home to stay safe and work well. Getting help from experts once a year is a smart move.

A yearly check-up helps find small issues before they turn into big ones. It also saves you money in the long run.

Call these people to look at your home each year:

1. Someone to clean and fix your heating and cooling system
2. Someone to clean and check your water heater
3. Someone to clean your chimney and make sure it's safe

These checks will help keep your home in good shape for a long time.

Finding Reliable Home Service Providers

Finding good people to fix your home can be tough. Start by reading what others say about them online. Ask your neighbors who they trust. Look at more than one place to get the full story.

Make sure the workers have the right papers to do the job. Check if they've a license and insurance. Get prices from three workers before you pick one.

Look at how fast they work and if they fix things when there's a problem.

Keep a list of good workers you can trust. Write down who can fix your pipes, wires, heating, and do general work. Then you'll know who to call when something breaks.