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Learn about the costs of home maintenance, and see how Home Free can save you time and money!
Maintenance vs. Repair
Both are important, but they serve very different purposes.
Maintenance is something you proactively do to take care of what you have. As a matter of fact, the average homeowner spends six hours each week maintaining their home.
Repair is something you reactively do to fix something that’s not working properly.
Typical Home Maintenance Costs Without Home Free
All the big and little stuff adds up! Over the course of the year you do a lot to take care of your home. From filters to fertilizer and everything else your home needs, homes require constant upkeep to prevent breakages and keep it looking its’ best.
The Real Cost of Deferred Home Maintenance Without Home Free
- Whatever is wrong, it only gets worse.
- Putting off home maintenance will end up costing you much more in the long run.
- Other stuff is going to happen, which ends up making your to-do list bigger, more
expensive and less manageable. - Neglected home maintenance has the opposite effect of home improvements – it lowers
your home value.
Average Annual Cost of Home Maintenance
Home maintenance costs 1%-4% of a home’s value annually; 1% for home less than five years old, 4% for homes more than twenty-five years old, and 2-3% for homes between five and twenty-five years old (forbes.com). For example, a $200,000 home will require $2,000 – $8,000 of maintenance annually.
Source: Forbes.com
| Value of Home | Age of Home | |||||||
|---|---|---|---|---|---|---|---|---|
| 1-5 Years Old | 6-15 Years Old | 16-24 Years Old | 25+ Years Old | |||||
| Per Year | Per Month | Per Year | Per Month | Per Year | Per Month | Per Year | Per Month | |
| $100,000 | $1,000 | $83 | $2,000 | $167 | $3,000 | $250 | $4,000 | $333 |
| $150,000 | $1,500 | $125 | $3,000 | $250 | $4,500 | $375 | $6,000 | $500 |
| $200,000 | $2,000 | $167 | $4,000 | $333 | $6,000 | $500 | $8,000 | $667 |
| $250,000 | $2,500 | $208 | $5,000 | $417 | $7,500 | $625 | $10,000 | $833 |
| $300,000 | $3,000 | $250 | $6,000 | $500 | $9,000 | $750 | $12,000 | $1,000 |
| $350,000 | $3,500 | $292 | $7,000 | $583 | $10,500 | $875 | $14,000 | $1,167 |
| $400,000 | $4,000 | $333 | $8,000 | $667 | $12,000 | $1,000 | $16,000 | $1,333 |
| $450,000 | $4,500 | $375 | $9,000 | $750 | $13,500 | $1,125 | $18,000 | $1,500 |
| $500,000 | $5,000 | $417 | $10,000 | $833 | $15,000 | $1,250 | $20,000 | $1,667 |
| $550,000 | $5,500 | $458 | $11,000 | $917 | $16,500 | $1,375 | $22,000 | $1,833 |
| $600,000 | $6,000 | $500 | $12,000 | $1,000 | $18,000 | $1,500 | $24,000 | $2,000 |
| $650,000 | $6,500 | $542 | $13,000 | $1,083 | $19,500 | $1,625 | $26,000 | $2,167 |
| $700,000 | $7,000 | $583 | $14,000 | $1,167 | $21,000 | $1,750 | $28,000 | $2,333 |
| $750,000 | $7,500 | $625 | $15,000 | $1,250 | $22,500 | $1,875 | $30,000 | $2,500 |
| $800,000 | $8,000 | $667 | $16,000 | $1,333 | $24,000 | $2,000 | $32,000 | $2,667 |
| $850,000 | $8,500 | $708 | $17,000 | $1,417 | $25,500 | $2,125 | $34,000 | $2,833 |
| $900,000 | $9,000 | $750 | $18,000 | $1,500 | $27,000 | $2,250 | $36,000 | $3,000 |
| $950,000 | $9,500 | $792 | $19,000 | $1,583 | $28,500 | $2,375 | $38,000 | $3,167 |
| $1,000,000 | $10,000 | $833 | $20,000 | $1,667 | $30,000 | $2,500 | $40,000 | $3,333 |