Budgeting is one of those things that many people know is important but very few actually take the time to do. When it comes to home maintenance, services and repairs can become costly, especially if you don’t plan ahead. A home maintenance budget is a great way to make sure that you set aside enough money throughout the year to cover your home improvement projects and maintenance needs.
How to Create a Home Maintenance Budget
Planning ahead is the best way to ensure that your home maintenance projects go smoothly. Here are the steps you should take to create a home maintenance budget for 2017:
- Determine how much money you can set aside for home maintenance.
Like any other type of budget, the first step in creating a home maintenance budget is deciding how much money you have to work with. Whether you are setting aside funds each paycheck or you have savings set aside specifically for home maintenance needs, you will first need to determine how much money you have to work with before deciding which projects you can plan for in the new year.
- Prioritize your home maintenance needs.
Once you have decided how much you can afford to spend on home maintenance in 2017, you need to prioritize your home maintenance projects. Though you may really want to renovate your bathroom or install hardwood floors throughout your home, these projects may not be as important to home comfort as purchasing a new air conditioner or replacing a damaged roof. Make a list of all the home maintenance projects you need to complete, and then decide which can wait and which cannot.
- Anticipate upcoming home maintenance needs.
When determining which home maintenance projects you will take on in 2017, you will also want to anticipate any future needs that may need to be taken care of. For instance, though your roof may not be leaking right now, that does not mean that it may not need to be replaced fairly soon. Consider the age and condition of your home and appliances to better anticipate any home maintenance or renovation needs you may have in the near future, and factor these into your home maintenance budget.
- Set aside funds for unplanned expenses and emergencies.
When creating your home maintenance budget, it is important to set aside funds for unplanned expenses and emergencies. For instance, let’s say that when you are renovating your bathroom, you discover a major issue with the plumbing. Though you may not have planned for this in your initial bathroom renovation budget, you can use the extra funds that you set aside for emergencies to fix this problem before it becomes a bigger issue. Similarly, it is always helpful to set aside funds for emergency issues like a broken down HVAC system or a busted water heater.
Is a new HVAC system on your list of home maintenance needs for 2017? Contact us today to discuss your options for a new air conditioning and heating system and installation. Don’t forget to ask about our financing options and rebates.