When budgeting monthly costs, homeowners generally take into account mortgages, real estate taxes, and homeowner’s insurance. Unfortunately, they all too often forget about maintenance and repair costs. It’s a good idea to set aside 1-3% of the home’s value for repairs and maintenance. You may not always know when you need repairs, but you do need to be prepared to pay for them.
Regular maintenance can also help lower the costs of repairs. Major repairs are less likely to be necessary if you can catch problems before they get too big, and you’ll probably end up paying more for even a single major repair than for regular maintenance and minor repairs across the year. A few things you should do every month are check HVAC filters, look for water leaks, check the vent hood in your kitchen, ensure carbon monoxide and smoke detectors are operational, and look for cracks in the foundation. All of these can be done yourself, and if there’s no issue, you don’t need to pay anything.
Here in California, we don’t have much in the way of seasons, but there are still certainly cold or rainy areas of the state. If your area freezes in the winter, look for ice dams on the roof, inspect for gaps under doors and windows, and consider protecting your AC unit from snow and ice if necessary. Your windows and doors should also be inspected during the spring, if your area gets a lot of rain. You should also get your HVAC and roof professionally inspected. Take care of any clogged gutters as well.