We offer a wide range of services for that fresh look, or just maintenance or updates to keep your home functioning and safe. Regardless of the size of the job, we have a craftsman that can tackle it. We offer a wide range of services for that fresh look, or just maintenance or updates to keep your home functioning and safe. Regardless of the size of the job, we have a craftsman that can tackle it.
home maintenance / February 6, 2020
How much should you set aside for your yearly home maintenance budget? There’s no exact amount – it depends on several factors, such as the location of your home, its age and general condition. There are several ways, however, to get an estimate.
1. The 1% to 4% Rule
According to the 1% rule, your yearly home maintenance budget should be equivalent to 1% to 4 % of your property value. That means if your home is worth $300,000 on the property market, you should set aside $3,000 to 12,000 for your home maintenance budget. However, this rule doesn’t take into account the age of your home. The newer a house is, the less maintenance it needs, at least in the first decade or so.
2. The Square Foot Rule
Size is another factor that can increase maintenance costs. It’ll take a lot more manpower to maintain a large property. The square foot rule, which says you need to set aside a dollar for every square foot of your home, takes into account this fact. What the square foot rule doesn’t take into account is the age of your home, which as said before, can affect the frequency of maintenance work.
Of course, these are just methods to come up with an estimate for your home maintenance budget. You’ll still need to calibrate them down the road. Familiarizing yourself with how the aforementioned factors can affect your home’s maintenance needs can help. Listed below is an overview:
For a more accurate estimate, you can consult an experienced contractor.
Handyman Connection® of Grapevine,a contractor with more than 25 years’ worth of experience, offers a wide range of professional home improvement services. To request a free estimate, call us at (817) 527-3600, or fill out our form here.