Planning Out House Expenses in Advance to Avoid Repair Costs
Tuesday, December 22, 2020, 6:00 AM | Leave Comment
When you purchase your first home, you likely have a lot of questions.
One of these may be about how many common household repairs will you have to deal with.
We’re going to reveal what some of the most common household expenses are and how much you should put aside to handle these repairs.
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Water Heater
The dreaded water heater is one of the most commonly thought of household repair jobs. When your water heater goes, it goes without any warning. It could be the middle of the night or the dead of winter. Either way, you’re going to need some money to replace it. The average water heater will run anywhere between $250 and $800, depending on the size that you purchase. If you’re planning on paying a professional to replace it, tack on another $150 to $250.
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New Roof
Everyone is familiar with the dreaded roof replacement. While the life of your roof is going to be highly dependent on the materials that are used, most roofs last about 20 to 25 years. A new roof can be a bit costly. Again, this is going to vary depending on the type of roofing material that you choose to use, the pitch of your roof, and its square footage. On average, you can expect a new roof to cost anywhere from $8,000 to $15,000.
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Replacement Windows
Windows, as they age, start to get foggy and break. Having some money set aside to replace broken or foggy windows is a must. Not only will a new window look and work better, it will also be more energy-efficient. This means more energy savings in the warm of summer and the cold of winter. A new window will cost about $300 to $500. You’ll want to save up money to replace all the windows in your home. Windows have an estimated lifespan of 20 to 25 years, on average.
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HVAC Unit
Another essential home maintenance repair is your HVAC system. This system is going to require money for both ongoing maintenance and repairs. You can expect to pay out a couple of hundred dollars each year for tune-ups and cleanings. When repairs happen, they can range from a few hundred bucks to a few thousand.
Planning out your household repair and maintenance expenses ahead of time will allow you to financially prepare. It’s much easier to deal with repair expenses when you have the money ready to go. Do yourself a favor and at least plan for the four expenses above.
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Brooke Chaplan is a freelance writer and blogger. She lives and works out of her home in Los Lunas, New Mexico. She loves the outdoors and spends most of her time hiking, biking, and gardening. For more information, contact Brooke via Facebook at facebook.com/brooke.chaplan or Twitter @BrookeChaplan
