When you’re someone who owns a home, although it gives you a great sense of pride, with it also comes a lot of responsibility. That’s because, unlike renters, you do not have the luxury of calling up someone to do home maintenance and repairs. When something goes wrong with your house, it is solely your responsibility.
And since we know that sometimes budgets can be pretty tight, we wanted to provide you with five ways to budget for home maintenance and repair costs. That way, should you need to work on something in your house, you won’t have to spend all of the money in your bank account in order to do it.
Set some money aside
Something that a lot of financial experts will tell you is that one of the best ways to be prepared for an unexpected expense is to have money already set aside for it. This is really a wise thing when you’re a homeowner. So, try and put away between $50-100 each paycheck for at least 12-15 months. That way, should you need a new appliance or to put down some tile flooring, you won’t have to worry about how to pay for it.
If you own a couple of credit cards, while you could use them to repair some of the things in your home, remember that credit cards come with interest. By using one of them, although you could walk out of a home improvement store today not owing anything, remember that a bill will be coming soon enough that will charge you for the item and also some interest too. That’s why we personally think it’s better to go with cash.
Make smart replacements
If there comes a time when you need to get something replaced (like your refrigerator or your toilet), try and look for items that have the Energy Star label on them. They are specifically designed to be energy efficient. This means that you will save as much as 20-40 percent on energy costs, which is the sign of someone who shopped wisely. Just like good budgeters do.
Say that it’s time to get an HVAC unit and you’ve been thinking about purchasing some top Bryant products. Something that can save you a few dollars is to use a couple of coupons. You can get them by either signing up on the mailing list of some of your favorite home, interior and appliance stores or you can go onto websites like Coupons and Retail Me Not to see what kind of coupons and promos codes that they have available.
Fix it yourself
One of the best things about the internet is all of the information that it is able to provide you, at a moment’s notice. Thanks to websites like HGTV, This Old House and DIY Network, you can figure out how to do just about anything from cleaning your air ducts to putting down insulation in your attic to repairing the shingles on your roof. And if you can do something for free, that is definitely one of the best ways to save money!