Budgeting for Home Maintenance

House maintenance is undoubtedly an important part of being a homeowner. But how much should your budget for home maintenance each year? How much will it cost for each individual servicing? It really depends on each house. Factors include location, number of appliances, size, etc.

Maintenance Costs

The cost to maintain each appliance or system differs, but it is good to determine the approximate amount for each task. For example, a common task for most houses is to have the air conditioner serviced. This task will costs about $50-150 per unit for a good cleaning and system check. Having the air conditioner maintained each year will extend the life and promote good energy efficiency.

What other tasks should your consider including? Here is a list of items to get you started:

• Dishwasher spray arm cleaning
• Chimney sweeping
• Vent filter replacement
• Furnace servicing
• Garage door opener lubrication
• Garbage disposal cleaning
• Smoke detector test
• GFCI test
• Humidifier cleaning
• Microwave cleaning
• Oven and hood filter cleaning
• Pool maintenance
• Refrigerator coil cleaning

There are many more tasks to consider but this checklist will get you going in the right direction. Note that some of these tasks should cost very little while others will require a professional and higher costs.

Rule of Thumb Budget

If you don't have time or just don't feel like compiling a list of all the home maintenance costs then just use the rule of thumb for budgeting. Set aside 1-2% of your home's value each year. For example, set aside $2-4,000 per year for a $200,000 house. This will give you plenty of cash to handle all maintenance and cover repairs.

Scheduling Maintenance for Property Managers

Property Managers have plenty to do without having to worry about having to keep track of scheduling home maintenance for all units. House maintenance is absolutely essential to stay ahead of problems. Preventive tasks are much cheaper than repairs.

Professional vs Tenant DIY Maintenance

Easy DIY Maintenance

Some maintenance is best if handled by tenants that can handle DIY tasks. It is not time effective to drive to all properties simply to change furnace air filters. It is a good idea to provide the resources for the tenants with the understanding that the task will be completed as scheduled.

Professional Services

Other maintenance is best done by professionals. A task done incorrectly can result in costly repairs. For example, air conditioner maintenance is typically best handled by professionals. Although this task is within the capabilities of good DIY home owners, it is tough to vet tenants for each task. It is best to leave work in the grey area to professionals.

Summary

It is good to realize the importance of home maintenance for property managers and schedule it ahead of time. It is best to use an online service, like Home Maintenance Tracker.