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How Much Should Set Aside Annually for Home Maintenance?

Jan 31, 2020

Regular maintenance is essential in making sure all components of your home are working properly. It also helps in ensuring your living space is safe and comfortable. When making a budget for your yearly home maintenance, you should consider its age and condition as well as your location. 

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In this blog post, leading new front door installers discuss how much you need to set aside per year for your home maintenance. 

The One Percent Rule

According to this rule, you should save one percent of the purchase price of your home for routine maintenance. However, this popular rule has a limitation. Your market timing won’t affect your home maintenance budget. For instance, if you bought your home with discounts or when you purchased your property at the height of the housing bubble. 

The Square Foor Rule

This rule state that you should set aside $1 per square foot per year for your maintenance budget. Since it correlates to your house, this is more sensible than the one percent rule. The larger your property is, the more you’ll need to save to keep it in good shape. Just like other projects, such as home siding replacement, you’ll have to spend more if you have a bigger home. 

Things to Consider 

The age of your home can affect the amount of maintenance it needs. Homes built within the last decade likely require minimal maintenance. On the other hand, houses that are more than 10 years old will need more care. If your home is over 20 or 30 years old, there’s a high probability that it needs a new roof or siding. Your location also matters since homes situated in areas prone to weather extremes experience more wear and tear. 

Need help with home repairs or upgrades? Get in touch with Master’s Home Solutions. Our team is here to help with your home improvement needs. We install high-quality and affordable windows, doors, and more. Call us at (610) 228-0086 or fill out our contact form to get a free estimate. 

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