Blog

CC0 Licensed Image Courtesy of Magnific

A home maintenance plan can help save you a bundle of cash in the long run and provide peace of mind knowing your home is as safe as it can be year after year. But where do you even begin? From a sinking repair fund to seasonal checklists, here are some ideas.

Spread Out Necessary Servicing

Your home will have specific tasks that are necessary throughout the year, and some can be expensive. Rather than paying for all services at once, spread out the most critical for times you can better afford them. For example, you don’t need to book a water heater service and a roof inspection for the same month. You can book a roof inspection before summer and a boiler service before the winter hits. This provides seasonal peace of mind while spreading the cost.

Create a Sinking Repair Fund

A sinking repair fund is essentially an emergency fund that you use specifically for home repairs. A rule of thumb that most experts recommend is setting aside roughly 1% of the total value of your home for repairs. So if your home is valued at $250,000, a $2,500 fund should be enough to cover the essential annual repairs of the home, provided there isn’t an unexpected disaster. However, you can offset the costs of an unexpected issue with home insurance.

Include Prevention in a Home Maintenance Plan

New homeowners spend around $5,200 on average on unexpected maintenance in the first year. Everyone can agree that’s a pretty big bill, and there are home maintenance tasks you can’t afford to neglect. However, after the initial shock and into the following years, being proactive about repairs can save you some money in the long term. For example, you can prevent further issues with pipes by using insulation and regularly cleaning the drains.

Create a Checklist Based on the Season

Seasonal changes are wonderful to watch and experience, as the leaves turn brown and orange in the fall, or as animals emerge in spring after a cold winter slumber. However, each season can also wreak havoc on a house, and the costs can add up. However, a seasonal checklist can help remove most problems, such as a plan for clearing the gutters, shoveling driveway debris, and booking inspections for your home’s pipes and other critical parts.

Keep Accurate Records for Insurance Claims

It can be a major help if you document damage for home insurance claims, as insurers will want accurate details, including photos, to process a claim. However, what about before the damage happens? Some insurers will refuse a claim if you didn’t take the necessary steps to protect your property. To avoid a refused claim, make sure you keep records of servicing receipts, photograph before and after home maintenance tasks, and keep certificates such as gas safety.

Summary

Spreading out the major costs of proactive repairs and servicing will help you build a home maintenance plan that saves money in the long-term. It also helps to prevent issues with proactive tasks such as pipe insulation and to keep a record of everything for insurance.