Are you worried about the cost of home repairs and maintenance? You’re not alone. A survey by USNews.com found that 57% of respondents are concerned about future home repairs. This is over half of the population concerned about the cost of maintaining their homes.
Insurance Business America conducted a recent survey, which found that 46% of those surveyed spent more than $5,000 on unexpected repairs in 2024, up from 36% in 2023. Consumer Affairs found that in 2024, 75% of homeowners had one or more emergency repairs.
With spending on home maintenance appearing to be going up and up, finding ways to cut costs and keep control of the budget is vital to ensure you don’t become too overstretched or compromise the safety and comfort level within your home.
This post will look at some tried-and-tested ways homeowners can cut the costs of home maintenance and repairs and desire to afford the work they need to have carried out comfortably.
Have Savings
Having a dedicated fund for repairs provides a sense of security and relief. But how much should you put away? Experts suggest that 1 to 4% of your home value should be put into a savings fund for repairs and maintenance annually.
Let’s consider this example: you bought your home for $400,000. You should aim to save between $4,000 and $16,000 each year. With the average home maintenance costs coming in at around $2,500 and emergency costs setting people back just shy of $1,700, the smaller figure here will cover this (figures from Angi’s State of Spending 2023 report). Even if you don’t use it, allow it to accumulate so you have more than you need each year. Not having these savings could mean you’re unprepared for unexpected repairs, leading to financial strain and potential safety and comfort issues in your home. For instance, a leaky roof left unattended can lead to water damage and mold, which can be costly to repair and harmful to your health. Don’t be tempted to spend it if you don’t use it for the intended purpose.
Have Annual Services
While servicing might seem like an additional expense, especially if you don’t think anything is wrong, it can actually be worth its cost should you encounter any issues. For instance, an annual HVAC service can help identify and fix minor issues before they become major problems, saving you from costly repairs and ensuring your system operates efficiently.
The team that provides Lex Air HVAC services always suggests doing this a couple of times a year to stay ahead of seasonal changes that can strain your system. They also point out that a consistent schedule helps prolong the lifespan of your equipment, giving you greater value over time.
Other annual services to consider include roof inspections, plumbing checks, and electrical system evaluations. With yearly servicing, your engineer will be able to check the current condition of the appliance or part of the home, e.g., the roof, and uncover any issues that might cause you problems in the future. Catching problems early means they are easier and cheaper to fix, and you can avoid more damage being caused because you didn’t know there was a problem.
Use Comparison Sites
Comparison sites can be instrumental in finding reputable service providers and getting you the best price for the work you require. You can choose to use specific comparison sites, such as a roofing one for Roof Quotes, enabling you to get the best prices from roofing companies in your area.
Even if you don’t take up any quotes, you will have a number of providers you can contact in the future. Some comparison sites even offer to be spam-free, so you can rest assured your details won’t be passed on without your consent when using the service.
Learn DIY
Some tasks, such as gas, electricity, and HVAC repairs, shouldn’t be attempted unless you’re a qualified engineer or specifically trained to carry out the work. However, you can undertake many home maintenance and repair tasks yourself.
Undertaking DIY tasks, learning the craft, and building your skills can reduce much of the expense associated with hiring contractors to complete the work.
Now, it’s important to know that just because you can, it doesn’t mean you should; you should always be aware of the limits of your capabilities to avoid making things worse. And when it comes to DIY, it’s best to start small and then build up your skills as you become more confident. It might mean you need to invest in equipment tools and safety equipment to ensure you and your home are safe during some DIY work, but by doing as much as you can yourself to preserve costs to put towards those times you need to call the pros in.
Do Repairs Early
Addressing repairs as soon as they arise is a proactive way to keep repair costs down. Remember, if something isn’t working right, it won’t fix itself. By taking control and fixing issues early, you can prevent more work and damage, ultimately reducing costs.
Use High-Quality Contractors
It can be tempting when funds are tight to opt for the cheapest quote to get the work carried out. However, cheaper costs can indicate corners are being cut, especially if it’s a considerably lower quote. This could lead to shoddy work, which may need to be rectified, resulting in additional costs. More importantly, poor workmanship can lead to safety hazards and further damage to your home, which can be even more costly to repair. Instead, look at the quality of previous work carried out, read reviews, research the contractor, and get a feel for how they work, what people think of them, and the work they do to find only the best people to operate the work. This will give you peace of mind and confidence in the work being done. Remember, quality work may cost more upfront, but it can save you from having to pay again to have poor work rectified, and it can ensure the longevity of your repairs.
Preventative Maintenance
We already looked at getting your annual checks and services carried out to enable you to fix issues quickly. But carrying out preventive maintenance and upkeep around your home can do the exact same thing.
Preventative maintenance is tasks that help your appliances or your home operate as they need to and limit or avoid damage from things you can control. It’s about taking proactive steps to keep your home in good condition and prevent problems before they occur. By regularly performing these tasks, you can avoid costly repairs and ensure the longevity of your home’s systems.
Tasks you can consider carrying out include cleaning dryer lint, changing filters in your HVAC and cleaning it regularly, cleaning gutters and drains, cleaning the roof, checking your plumbing for leaks, not overloading electrical circuits, etc. These are simple tasks that, when done regularly, can prevent significant issues and prolong the life of your home’s systems. The more you can do to preserve the health of different aspects of your home, the better condition it will be in for longer.
Off Season Repairs
Off-season repairs mean getting your repairs or maintenance carried out when there is less demand or before it fails completely. This means it’s not an emergency, and you can save money on more expensive fees
A good example of this is not waiting until temperatures reach record highs to get your air conditioning unit fixed or running it to failure, so when you need it during a heatwave, it doesn’t work at all. It’s about getting your heating tested and repairs carried out when you rely on it the least.
You can save money by not adding to the demand or requiring emergency callouts, and you will not be reliant on the appliance. So whether it’s getting your roof repaired in the summer to withstand harsher winter weather or getting your gutters fixed or replaced in drier periods, not during wetter seasons, look at getting work done off-season.
Look for Bundle Offers
If contractors provide more than one service, see if there is any discount for bundling up any services, especially for annual services or maintenance checks. If they can carry out more work on the job at the same time, it could unlock better rates and save you money. This can vary from provider to provider, and it’s at their discretion whether they offer this, but if they do, it’s worth enquiring as to whether or not there are bundle discounts for work being carried out.
Be Proactive
Being vigilant and proactive within your home to identify potential issues means you can get ahead of the game and avoid major catastrophes. This means understanding how your home works, what normal and good conditions look like, and jumping on any changes quickly to find the cause and resolve it. This can help you ensure that everything is in good working order and that you know your home well so you can pick up on even the slightest changes. Take some time to go around your house, inspect every nook and cranny, and become your home’s champion to help you keep those repair costs low.
While you can’t avoid repair and maintenance costs, there are ways you can lower the costs associated with this part of homeownership and enable you to retain the function of your home and live comfortably without stretching yourself too thin financially.
