Home Maintenance 101: What to Budget for Each Year

Homeownership comes with more than a mortgage payment. Regular maintenance is an ongoing cost that protects your property’s value and prevents expensive repairs later. Many first-time homeowners underestimate these expenses, which can lead to financial stress. Understanding what to budget for each year helps you plan ahead and avoid surprise costs.

Why Maintenance Budgeting Matters

Routine maintenance keeps small problems from becoming major ones. Ignoring upkeep can lead to higher repair bills, lower property value, and even safety issues. Budgeting for maintenance allows you to handle repairs without relying on credit cards or emergency savings.

A Simple Rule of Thumb

A common guideline is to budget 1% to 3% of your home’s value per year for maintenance. For example, a £300,000 home may require £3,000 to £9,000 annually. The exact amount depends on the home’s age, condition, size, and location. Older homes typically require more frequent and costly repairs.

Regular Annual Maintenance Costs

Some costs appear every year and should be part of your baseline budget. These often include:

• Heating and cooling system servicing
   

• Plumbing checks and minor repairs
   

• Electrical maintenance
   

• Gutter cleaning
   

• Roof inspections
   

• Pest control
  These tasks may seem small, but they prevent much larger problems over time.