It’s a good idea to set aside money each month for your home’s maintenance costs if you own a home. To determine the amount you should save, calculate about 1 percent of your home’s value and divide that by 12. That is just a rough number. Since unexpected homowner expenses come up that can exceed what you save, it is best to set aside more for big-ticket items that you may anticipate such as a furnace or roof.
Here are five unexpected homeowner expenses costs to consider:
Squirrels and Raccoons
For you, your attic is just storage space, however, a mother squirrel, raccoon or chipmunk might find your attic as an impressive nest to have their babies. Since the insulation is warm, they like to chew holes in your roof to gain access your attic. If this happens, these critters can chew your wiring, leave their droppings, and then have their babies that will eventually eat your walls. If they don’t leave on their own, it might cost you as much as $100/animal to remove them.
Dogs That Dig
Having a back yard for a dog to run in is a fun benefit of owning a home, but it can lead to some expensive repairs if your dog doesn’t have enough entertainment. If your canine digs a hole underneath your fence, it can be his way of telling you that he is not getting enough attention. If the damage to your fence is severe, it would mean that you have to build a new fence. This could mean a bill costing you hundreds of dollars.
Washing Machine Overload
Using too much detergent in a high-efficiency (HE) washing machines can lead to problems. Adding the wrong detergent or too much detergent can make your machine exhaust and break. Make sure to use the right kind of HE detergent called for by the manufacturer or your washer, or be ready to purchase a new washer if it breaks.
That big old tree in your yard looks great and gives you excellent shade, but its roots could destroy the drain line coming out of your house and might cause a few thousand dollars’ worth of repair costs. You may not think of this as you are admiring your beautiful tree, but it may be a good idea to have a line inspection from your home to the street.
Windows That Seep
If your home inspection doesn’t occur on the day of a downpour, you likely won’t realize you have leaking windows. You could spot some water damage by the frame, but it could take awhile for that to be visible. While caulking windows are simple, replacing windows and repairing damage from the leak can be costly. Not everything can be prevented. Another key to homeownership maintenance is having a box of proper tools. Having the basics such as clippers, pliers, and a hammer will do to start with.
Hopefully, these insights will help you be well prepared for whatever unexpected home repair expenses come your way. If you have questions about homeowners insurance, we are happy to help you.