Tips to determine your Home Maintenance Budget

Tips to determine a Home Maintenance Budget

Tips to determine a Home Maintenance Budget

To have continuous harmonization in your home, one always has to plan the regular maintenance budget. There are many methods to estimate the annual home maintenance costs and its always better to look at the major components of your house that will surely require replacement in the near future. Some basic practices that we suggest you before finalizing your home maintenance budget are as below:

  1. Inspect the condition of your home’s heating, air conditioning, plumbing and electrical systems. Check the condition of walls, ceilings, floors, windows and doors. Also do have a closer look of the foundation, basement and supports. See carefully for signs of pests, like termites. See the condition of septic system or drain.
  2. Now prioritize the repairs and make sure that safety comes first, comfort comes second and aesthetics comes at last.
  3. It’s important to determine two major components such as repair’s initial cost and how long it is expected to last.
  4. Now put all the data together in a spread sheet like Excel. Here you will enter all your collected data in six columns. In first column list the anticipated repair and cost of the repair in second column. The third column will cover that how soon you will need the repair in months. In the fourth column you need to divide the cost by the years until you’ll need the repair again. Let the fifth column provide the anticipated life of the repair and your sixth column should be the total cost of the repair by the life of the repair. Have a closer look and see that the fourth column will give you an estimate of your monthly home maintenance budget and when you are done with the repairs, use the last column of your sheet for your budget.
  5. It is important to inspect every year whether your estimated repair targets are accurate.

Tips to determine a Home Maintenance Budget

 

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