How Much To Budget for Home Maintenance

June 8, 2023

Homeownership can get a little complicated if not done right. While many people think the savings of home ownership ends with buying a home, it actually begins there. The ownership journey and determining the things that your home needs is a very important task and is often misjudged by many, leading to gaps in maintenance, repairs, and more.

Finding the right materials for your home’s exterior and budgeting for the routine maintenance activity shouldn’t be a pain if done right. Here’s how you can save for home maintenance by planning in advance and taking every factor from our professional roofing company into consideration.

Need gutters, siding, or roofing? Ask about our financing options today. 

Budgeting For Exterior Home Repairs? Consider These Things First

When it comes to saving for home repairs and maintenance, having a plan of action that starts with homeownership can be a big boost. Always having savings dedicated to your maintenance reduces stress and quickens the completion time for services like roof replacements, gutter replacements, and siding installs.

Before starting to save money, take into consideration all the factors like the age of your property and the location of the property so you have the right amount on hand.

Age of the Property

The primary factor to determine the home repair and maintenance costs is the age of the property. A home that has been recently built and is completely newer might have lesser elements to worry about in them. Whereas, an older home might cost a bit less upfront but eventually might have elements that might need more attention than a newer home.

Location of the Home

The locality of the home is another factor that can bring up the cost of repair and maintenance or pull it down. If your home is located in a high-end locality, having a higher budget might help. Consider the weather, flooding risks, damage from landscaping or nature, and more.

Home Systems and Appliances

The home appliances and other systems in the home also determine the costs of home repairs and maintenance in the place. The lifespans of these appliances in advance, and having an estimate of when these might start to show signs of repair and disarray, can play a vital role in determining the final home repair budget. For exterior home maintenance, this includes your HVAC systems — these work harder if your roofing or siding is outdated and not optimized for energy efficiency.


So when it comes to saving up for home repairs, one major factor to consider is the climate patterns in and around the place. Maryland faces extreme summers and winters, requiring your exterior home remodeling to be compatible with both insulation and retention of heating and cooling.

How Much To Budget For Exterior Home Repairs?

When it comes to budgeting for home repairs, there are a few simple things to keep in mind. Routine expenses such as HVAC annual servicing, gutter cleaning, and roof inspections can be ascertained beforehand and can help save up a lot in the longer run. The other end of expenses are usually unpredictable and can pop up without any heads-up. While there are factors that might differ from one home to another, some of these can be predicted beforehand, and the amount for the same can be kept aside.

Here are different ways that you, as a homeowner, can determine the cost of home repair and maintenance at your place.

Percentage Rule

The percentage rule is a very simple finance rule that can help you save for your home repairs and maintenance costs. According to this, setting aside 1 to 2% of the home’s purchase price every year for maintenance and repair costs. For instance, for a home worth $300,000, setting aside $3,000 every year should be more than enough for general maintenance, emergency repairs notwithstanding. This can be a great starting point to start saving up for home repair and maintenance.

Square Footage Rule

In the square footage rule, homeowners might have to budget for maintenance on the basis of square footage. According to this, saving a dollar for every square foot of your place every year. This can be a good rule of thumb in volatile real estate markets. So, for instance, for a place as big as 3,000 sq ft, $3,000 should be sufficient for annual repairs and maintenance. This rule can still be applied for exterior maintenance and should cover incidental costs as they appear.

Key Takeaway: Starting Small, Being Consistent

Budgeting for a specific purpose can be overwhelming in many ways. It involves a lot of planning, considerations, and to some extent, advice and research from various sources. However, at the end of the day, all that matters is starting small with your budgeting requirements and staying consistent. A properly done, detailed home maintenance plan can include siding installations, roof installations, and gutter installations among other things, which can definitely cost a lot.

Taking smaller steps in terms of budgeting and being consistent and disciplined with it, is the way to go when it comes to budgeting for your next home’s maintenance and repairs. Apart from saving, another way to save up some extra bucks is by planning the maintenance in advance and running routine inspections. This can help identify any looming problem in advance, before it gets too big, or worrisome, adding to the overall cost.

Still worried? Politz Roofing offers financing options — contact us today to inquire about what your estimate could be.