How to Budget for Home Repairs: What You Need to Know
Home repairs are a part of owning a house, and knowing how to budget for them can make a huge difference in keeping your home in great shape without breaking the bank. Whether it’s a leaky faucet, an electrical issue, or a plumbing problem, having a plan in place will help you tackle repairs without stress. Here’s how to budget for home repairs like a pro.
1. Know the Types of Repairs
Home repairs usually fall into two categories: preventative maintenance and emergency fixes. Preventative maintenance, like cleaning gutters or servicing your air conditioner, helps avoid bigger issues down the road. Emergency repairs, like fixing a broken pipe or electrical issue, are unexpected and usually more expensive.
Make sure to budget for both types, as they’re both important for keeping your home in good condition.
2. Set Up an Emergency Fund
Emergencies happen, and home repairs are no exception. It’s smart to set aside 1-3% of your home’s value every year for repairs. So, if your home is worth $250,000, try to save between $2,500 and $7,500 annually. This fund helps you cover surprise repairs without dipping into savings or racking up credit card debt.
3. Prioritize Your Repairs
Not all repairs are urgent. Some things, like electrical or plumbing issues, need immediate attention. Others, like cosmetic repairs, can wait. When budgeting, focus on essential repairs first. If you’re not sure what needs to be fixed right away, a professional handyman can help you prioritize.
4. Get Multiple Quotes
Before committing to any repair, get a few quotes from different professionals. This gives you a better idea of what the going rates are and helps you avoid paying too much. At FixedIt Handyman Services, we offer reliable home repairs at just $50 per hour—a great deal for high-quality work.
5. Factor in Hidden Costs
Sometimes repairs come with unexpected costs. You might need extra materials or permits, especially for bigger jobs like electrical work or plumbing. Make sure to account for these extra costs when planning your budget, so you don’t get caught off guard.
6. DIY vs. Professional Help
DIY can be a great way to save money on simple repairs, but it’s not always the best choice. Some repairs require special skills and tools, and doing them yourself might lead to bigger issues later. For more complicated tasks, like plumbing or electrical work, hiring a professional is the safest and most cost-effective choice. At FixedIt Handyman Services, we handle all types of repairs, from small fixes to more complex projects, at $50 per hour.
7. Adjust Your Budget Regularly
As your home ages, your maintenance needs will change. Older systems, appliances, and fixtures may require more frequent repairs. It’s a good idea to review your repair budget once a year and make adjustments based on the condition of your home. That way, you’ll always be ready for whatever comes up.
Conclusion
Budgeting for home repairs doesn’t have to be stressful. By understanding the types of repairs you’ll need, setting up an emergency fund, and working with a reliable handyman, you can keep your home in great shape without breaking your budget.
At FixedIt Handyman Services, we offer affordable and reliable home repairs starting at just $50 per hour. Contact us today for a free quote and let us take care of your home repairs!
