We know what it’s like. You get an offer accepted, go through all the conveyancing, and finally, after months of waiting, you move into your new house for that ‘happy ever after.’
But what nobody ever really talks about is the fact that the work is never actually over! According to the Daily Mail, homeowners should spend 1% of the value of their home on improvements every year – just to maintain its worth in the marketplace.
So, what kind of things should we maintain regularly? And how much exactly will it cost? Here, we’ll attempt to answer it all.
Property maintenance cost considerations
The average homeowner spends £848 on property maintenance every year.
But unfortunately, it’s impossible to predict exactly what maintenance your home will need or how much it will cost. After all, 30% of homeowners are forced to complete an unexpected emergency repair every year (with emergency repairs costing a hefty £925 on average).
That said, there are some factors that can help to give some idea:
- The age of your home: A home build more than 10 or 20 years ago is likely to need more maintenance than a new one.
- The climate: Extreme temperatures, humidity, heavy winds and snowfall can all increase the amount of maintenance your home needs.
- The geography: If you live somewhere that’s prone to flooding or termite infestations, you might consider budgeting more for property maintenance.
- TLC: If the previous inhabitants took good care of your home, it’s likely to bring your property maintenance costs down.
|Cost provided item||Unit||Cost+VAT |
|Gutter cleaning||Per house||-||-||£150|
|Roof tile replacement||Per 10 tiles||£120||£220||£170|
|Electrical repairs||Per day||-||-||£150|
|Fixing a dripping tap||-||£75||£125||£100|
|Fixing a leaking pipe||-||£77||£128||£102|
|Fixing a leaking radiator||-||£88||£147||£118|
|Fixing a leaking toilet||-||£83||£138||£110|
|Lawn care||Per month||£11||£17||£14|
Property maintenance costs
Most things don’t last forever. For example, carpeted flooring usually holds up for just eight years. Sealants and stains can last for up to eight years but often give up after three. And a cultured marble countertop has an average lifespan of 20 years.
So, all these things need replacing sooner or later. Other common property maintenance examples include:
- Gutter cleaning and repairs
- Roof repairs
- Replacement of worn-out appliances
- Electrical repairs
- Lightbulb replacements
- Plumbing fixes
- Lawn care
Regularly maintaining many of these elements is likely to save you money in the long run. A blocked gutter is just one example. It only costs around £150 to clean the gutters for a whole house, but neglecting them for too long could cause expensive damage to your joinery and internal decoration. So, it’s usually best to just get it done!
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Rental property maintenance costs
In a rental property, maintenance costs tend to be shared between the landlord and the tenant.
Tenants may be asked to meet certain maintenance costs during their tenancy, such as maintaining the lawn or oiling the decking. But the landlord will usually be expected to cover major expenses, such as roof replacements, fixing faulty plumbing, repainting, and replacing broken furniture (in a furnished property).
Whether you’re a landlord or a tenant, always make sure requirements such as these are covered in your contract, to avoid any disagreements further down the line!
Property maintenance cost key takeaways
- The average homeowner spends £848 on maintenance each year.
- 30% of homeowners are faced with an emergency repair each year.
- Factors like your location and the age of your home can affect how much maintenance will be required.
- Landlords usually take on major maintenance expenses in rental properties.
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