Maya outlined maintenance cost buyers should keep in mind. It is all well and good to put the money together for the purchase of your hom; however the after sale maintenance is as important.
14 Home Maintenance Expenses To Be Prepared For When You Buy A Home
When you buy a home all the maintenance costs of the home are your responsibility so in addition to the cost of your mortgage payment, taxes and insurance you need to be prepared for these. Time estimates on when these repairs can be expected are based on my personal experience and yours maybe quite different depending on your family size and heaviness of use. Some of the costs you will incur are:
- Landscaping - This will be an ongoing expense
- Plumbers visit –Every 3 years.
- Electrician Visit - 1 every 5 years
- A/C Repair and Maintenance - Every 3 to 5 years
- Paint Interior – Every 3 to 5 years
- Paint Exterior – Every 5 years
- Carpet Replacement - Every 5
- Hardwood Floor recoated every five years
- Appliance replacement – Every 10 years
- Insulation - On moving in
- Hot water heater replacement – every 8-10
- Furnace/Heater repair or replacement - every 8 to 10 years
- Roof Replacement - every 15 years
- Kitchen and Bathroom Updating -every 10 to 15 years
You should measure the time from when the items were put into service. For example a hot water heater that is 5 years old will likely need to be replaced 3 to 5 from the time you bought the home. It would be wise to budget around $100 to $150 a month to be put in maintenance fund that you can access as needed. This way you would be saved the shock and financial distress that comes with unexpected and unanticipated expenses.
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Maya Swamy, Ph.D
The No Excuses Realtor
List! Buy! Save!
323.230.9775
maya@listbuysave.com
Jennifer Fivelsdal - JFIVE HOMES REALTY LLC - 845-758-6842- jennifer@jfivehomes.com
www.jfivehomes.com or www.midhudsonhomevalue.com
