How to Estimate Maintenance Cost

Owning a home comes with a number of associated maintenance costs.

Owning a home comes with inherent responsibilities, ranging from taxes to remodeling over time and associated maintenance costs. Given the many variables that go into maintaining a home, a number of maintenance fees go hand in hand with being a homeowner. Using quality materials and professional installers up front can help you save money in the long run when it comes to maintenance costs over time, but there will always be ongoing costs. Regardless of what type of maintenance you are looking at, keep a few things in mind to help budget your costs over the years.

Instructions

1. Look at the type of material, surface or appliance you need to maintain. Appliances, for example, require annual checkups to make sure the power elements are working properly. Air conditioners and heaters will need their filters cleaned regularly, while hardwood floors and natural stone surfaces will require annual sealing to protect the surface. The type of material or appliance will determine the associated maintenance requirements.

2. Factor in the associated cleaning costs into your maintenance estimate. While some surfaces, such as tile floors or shower walls, only require basic cleaning supplies that you can purchase at any supermarket or convenience store, specialty surfaces such as Saltillo tile or hardwood decks will require specialty products specifically designed for those types of materials. While you can generally purchase a year's supply (or more) in one go, they are extra expenses compared to normal cleaning supplies.

3. Determine if you are going to do the maintenance yourself or hire a qualified professional to do it for you. While you can certainly save money in the long run by doing maintenance on your own, under certain circumstances you need to hire a professional unless you have the prerequisite credentials. Examples of this would be heating and air units, which require HVAC certification, or electrical work -- such as rewiring an apartment -- that requires a license. Changing a light bulb or replacing a piece of tile, however, are things you can do yourself.

Resources

• MSN Real Estate: What Will It Cost To Maintain That Home?
• Old House Web: Estimated Remodeling and Repair Costs
• Home Inspector Locator: Home Repair Cost Guide