November 8, 2021

How Much Should You Be Saving For Home Maintenance?


Table of Contents

Home maintenance is a duty that will always become necessary in your life. The amount you spend in maintaining it can reduce by how well you take care of it and how little the repairs are.

How much you should save for home maintenance is difficult to answer. There are factors that you can use to come up with an estimate of what you will need. To determine how much money your home requires for repairs, the first thing you have to do is take account of the duration of completed construction.

Average Lifespan of a House

Generally, houses are built to last for about 50 years! The first 20 years will go on without much trouble. New materials and structures still have their quality intact for the house. During this period, problems are minor but over time, wear-and-tear starts taking place. You can see some damages for repair.

After 30 or 40 years, you will notice that there are more dilemmas of a serious nature than before. The rate at which these issues arise is directly proportional to the maintenance of the house. This is during its initial years of construction. Expect more expenses for home maintenance later on. That is when you do not mind about your property’s condition during these two decades after completion.

Rule of Thumb for Home Maintenance Budget 

Homeowners should know three basic rules on how to set aside funds for home maintenance. Below is a guide:

1% Rule

As an example, your house is 20 years old. You should set aside one percent of the home value annually for maintenance. This becomes the estimate of how much you spend on minor repairs and replacements.

5% Rule: The budget required will become five percent in case your house is 30 years old. You have to allot more money for added expenses in repairs. Expect a lot more issues to fix after this period.

The Square-Footage Rule

This method is the easiest! You should put aside this amount for each square foot of your house:

0-400 Square Feet: $50 per year

401-800 Square Feet: $100 per year

Base the total money you allot for home maintenance on the total cost of your property and how long it will last. Developing a habit of maintaining your house can save you money for future repairs.

Depending on how well you maintain your home, drastic changes may not appear. You need to do other repairs that come up after the first few years pass by.

Grain of Salt of the Two Rules Above Mentioned

These two rules will not tell how much you should save for home maintenance. The 1% and 5% rule of thumb can give you a rough estimate of how much to save monthly. At least these estimates are enough to plan how much money you will set aside for this purpose each month. That is even when the numbers do not appear correct.

Knowing how much you should save for home maintenance is essential. These recurring costs can take a toll on your finances. Saving more money means less trouble when it comes to incurring expenses in future repairs.  

What Is Included in Home Maintenance Costs?

Home maintenance does not only consist of the costs for repairing damages or an estimate of the payment to fix a small issue. The list for this includes how much you use in maintaining your house in any way possible. For instance, how often do you do lawn care? You should allot money in maintaining your yard to keep from threats like pests and keep making it look good.

Improving Your Home’s Value

Home maintenance also means how much you spend in improving the value your property holds. These are additional expenses that homeowners incur. But it will become worth it when you sell your home later on. This is when how well your house stands out from others becomes relevant among buyers.

How much should you save each year for the maintenance of your home?

The answer will vary depending on how long you owned the property. Expect more expenses for home maintenance later on. That is when it has been around for 30 years or more. You can ask how much masonry contractors charge in your area to fix issues that come up with how old your house is when possible. Get an estimate of how much should you save for home maintenance that way.

How Weather Impacts Your Home Repair Budget

You should consider how the weather will affect your house. For instance, when you live in an area with extreme seasons, how much money you set aside for home maintenance increases significantly! You have to do more repairs on how well your property stands up against the degree of harshness from these seasons.

It is easy to see that home weatherization improves the comfort in your house. But it can also save you money. The trained professionals in this industry understand how a structure works as an integrated system. They offer solutions when problems arise using Science.

Good Practices in Maintenance

How much to save for home maintenance changes depends on how worn out your house becomes over time. But how much you spend on maintaining your property influences the degree of damage that may need future repairs.

Take care of how well your lawn stands against different weather conditions. Read some tips that may help you protect your lawn from damage caused by various weather conditions such as extreme heat, hail, rain, high winds, and snow.

Don’t confuse home maintenance with major repairs

It varies on the duration of your completed house about how much you should save for home maintenance in the long run. You can ask the estimated value of contractors’ charges for your area when possible. While savings for home maintenance change each year, the money you spend on repairing major damages will also take a toll on your budget.

Always try to do the best practice possible in the degree of your home maintenance. It also varies depending on the circumstances involved. It is important to see how this cost can accumulate and affect your budget over time. Keep up with how well your property maintains itself against wear and tear from various seasons.

How can a home maintenance fund help you?

A home maintenance fund lets you figure how much should you save for home maintenance in the long term. It means how well your house maintains itself against the duration since completion. You can invest money that you set aside for repairing major damage that occurs over time.

Some professionals suggest that homeowners should save up a substitute for their income whenever they are away from work. There are some instances when an individual’s income stops temporarily. But the money that you should keep aside for emergencies leads to problems that build up over time.

How much should you budget for unexpected home repairs?

Some know how much you should save for home maintenance as a yearly budget varies. You can consult the charge of contractors to replace broken parts that need repairs. This is from the degree of how your house sustains itself against different seasons.

Keep up with how well your property maintains itself every year especially during harsh seasons. Put money aside for unexpected repairs. You have a possible solution when major damages occur over time.

When should you consider saving more?

How much you should save for home maintenance means to consider how well your house can retain and sustain against different kinds of weather each year. Remember that every part of this structure works as an integrated system.

How much do you need? That depends on how well your house can hold up against damage that occurs over time. It also varies depending on how much money you invest in maintaining the parts that you use most frequently.

Where should you save money for emergency home repairs?

Setting up a cash reserve is essential for homeowners. When you are planning on making your house payment or retirement savings, consider setting aside three to six months’ worth of living expenses. This is in case an emergency strikes and you use those funds instead.

Experts suggest around 1% – 3%. That may not seem like much. But when it comes down to how long you can continue paying bills with points from credit cards, having some extra money set aside might come in handy.

Time to save money for emergency home repairs

You can start with a project that you will undergo. Another choice is the duration it might take to make changes in the manner of saving. For example, when you put away $100 every week, how much will that amount total after one year?

Time how well your project continues against different weather conditions each year. You can also estimate how much might change over several years based on the current savings style. It is important to consider how well your dwelling organizes itself over time with the manner of investing money in repairs now and then.


How do you plan for home maintenance?

You can make a customized home maintenance plan. The details of how this scheme works and how long it will take vary depending on how much money you will set aside. Having a scheme allows you to forecast how well your property maintains itself against future damages.

What is a Home Warranty?

A warranty may seem like an expensive option. But it has its benefits because it guarantees how well your house can retain and sustain against different kinds of weather each year. You do not need to pay workers who will check how well all structures work as one unit. That saves you time and effort when major damages occur, regardless of how long they last.


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