Today I want to talk about the importance of home maintenance for first-time buyers. When you’re ready to take on the responsibility of owning a new home, you also need to be ready to take on the responsibility of the maintenance on your new home. It’s something you probably wouldn’t think about if you’ve been in an apartment, or a dorm, or living with your parents.
First off, if you negotiate a one-year warranty on your home purchase, that’s awesome. If you don’t have one, you can still get one and I’d be happy to recommend one to you. It’s a good thing to have. It costs $500 to $600 per year, but it will take care of any major costs for the systems in your home.
Some common maintenance categories include sidewalks, roof, HVAC, plumbing, gutters, pest control, pool maintenance, and your irrigation system.
The national stats show that a third of your yearly budget should be set aside for home maintenance. You might only end up using 1% of your home’s purchase price, but it’s a good idea to always set money aside for worst-case scenarios.
The older your home, the more maintenance you’ll need to budget for. The opposite is true for new homes. However, it’s something you should always be thinking about as a homeowner.
If you have any questions for me or need any recommendations for home warranty companies, service providers, or anything else, don’t hesitate to give me a call or send me an email today. I look forward to hearing from you soon.