The purchase of your first home is a joyful event. You have probably saved for many years to put together a down payment and carefully worked out your budget to accommodate your new mortgage payment. However, unexpected home maintenance costs can undermine your careful planning.
Unexpected Home Maintenance Costs for HVAC Maintenance & Repair Costs
One of the unexpected home maintenance costs you may encounter involves your heating and cooling system. An HVAC repair can easily cost hundreds of dollars. You can help to reduce these surprise expenses by having your system inspected and serviced twice a year for a reasonable fee.
Lawn Care Expenses
Caring for your yard can result in a number of unexpected home maintenance costs. You will need a lawnmower and other lawn maintenance equipment if you choose to take care of your yard yourself. Many people prefer to get a lawn maintenance professional to do this work. Either way, you will have to add a number of expenses to your budget to include weed killing, mulching beds, and pest control.
Roof & Gutter Maintenance
Cleaning and maintaining your gutter system is an important part of keeping your home in good condition. You’ll need to buy equipment to complete this task, or hire someone. Also, your roof may require repair from storm damage or normal wear and tear. These costs can be significant, particularly if you require a new roof.
Unexpected Home Maintenance Costs for Energy Efficiency
Once you own a home, you are likely to see an increase in your energy bills compared to apartment living. However, you can take steps to reduce your heating and cooling bills by increasing your insulation, caulking around windows and doors to prevent heat loss, and updating your furnace equipment to a more energy efficient model.
Owning a home requires an adjustment in budgeting. These costs may seem like a financial inconvenience, but they can significantly affect the value of your home when you’re ready to sell.