First-time homebuyers may not know to plan for home maintenance costs. When buying your first house, budget for your mortgage and the additional expenses that go along with homeownership. Here are some of the home maintenance items that often surprise first-time home buyers.
1. Lawn Maintenance Costs
As a homeowner, you’ll want to have yard tools on hand like a lawn mower, garden tools, and a leaf blower. If you don’t plan to maintain your lawn, you should budget for professional lawn care services.
2. Plumbing Expenses
You’ve moved in, and now you discover that the kitchen faucet drips constantly. Replacing the faucet will cost less if you do it yourself, but you need some plumbing know-how.
Budget for plumbing repair costs like a leaking toilet, fixing a burst pipe, or replacing the water heater. Plumbing issues result in home maintenance costs that you may have not expected.
3. Faulty Electrical Wiring can be an Unexpected Maintenance Cost
Faulty electrical wiring can cause a fire in your home. Repairing and replacing wiring requires a professional electrician. Find a professional inspector to inspect the electrical system and give you advice on how to fix any issues.
4. Updated Home Decor
While this doesn’t necessarily fall in the essential home maintenance costs category, many first time home buyers want to add their own touches to a new property. You may choose a fresh coat of paint or to update the flooring. No matter what your plans, set aside money to make aesthetic upgrades.
5. Home Maintenance Costs for Updating Windows
Windows are an often neglected feature in a home; they are taken for granted until they start leaking or get damaged by a storm. Total window replacement can be costly. If you are not yet in need of new windows, start setting some money aside for this inevitable expense. New windows are also are more energy efficient.
Home Maintenance Costs can be Managed
With a little budgeting and preparation, you can take on the responsibility of homeownership successfully by caring for your property and planning ahead for home maintenance.