Important Factors To Consider While Calculating The Maintenance Cost of a Home

Home is a place where everyone feels secure and comfortable. Besides many benefits, the disadvantage of any home is that it not remains the same as it was before. The walls you painted 3 years ago won’t glow, the ceiling grid systems you install many years ago weren’t protective now, that’s the reason the maintenance is necessary for every home. People love to adopt new latest home décor designs even some of them go only for necessary maintenance.

The maintenance isn’t a problem if you are a billionaire but it could create problems when your maintenance cost gets more than the budget you deploy. In this era, it is hardly possible to spend more on the maintenance of your home when you have many more area’s where you need to spend more money. The best way is to calculate the average maintenance cost of your home to get an overview of how much money you will be needed.

There are many factors involved while looking for the overall maintenance cost. The biggest factor is the things you will need to repair or change completely. This blog comes up with top methods through which you can calculate the average maintenance cost.

Top Factors to Consider

There are several factors that need to be considered while going for the maintenance of a house. The maintenance cost will be dependent on the factors that are mention below

  • Age: The age of any home will determine how old it is and what type of maintenance it needs. It is a common fact that a new home which is not more 13 years old will need little maintenance as compared to the home which is built 20 years ago. The roof of older homes must need to be replaced as they have sustained till the limited time and won’t be effective in future.
  • Weather: Homes that are located in the older countries and faces stormy weathers, snowfalls and ice storms would be needed more maintenance than the homes that are located in the areas of unaffected weathers.
  • Conditions: The condition of the home is not dependent on age. Some homes are found to be more maintained despite of 100 years of ages while many are not maintained well even if they are 10 years old.
  • Location: Location of any home determines how much maintenance it will be needed. The homes at the bottom of the hill or any other area which is creating environmental problems will eventually suffer more and need more maintenance & care.

The 1 Percent Rule

As per to the one per cent rule 1 per cent from the total cost of your home should be left aside for the home maintenance. You will need to do maintenance every year for which you need to spend 1 per cent of the total cost of your home. For example, you purchase your home for 4 hundred thousand dollars so the total maintenance cost should be 4 thousand dollars every year. No matter what’s the market rate of your home just keep the 1 per cent for the maintenance from the actual cost of purchasing.

Hi, My name is Dorian Wright and I am an enthusiastic entrepreneur looking to make my mark in the industry. I have a great love for creativity and I prefer to incorporate that into my work.

Leave a Reply