How To Estimate Home Repair Costs For Taxes
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Homeownership comes with many regular costs, including property taxes, utilities, insurance, and, of grade, home maintenance. The National Home Builders Clan (NAHB) reports that home maintenance accounts for x% of a homeowner'due south annual property operating toll.
Surprised by that figure? You lot're not solitary — 45% of homeowners underestimate the cost of home maintenance, according to a recent Cinch survey.
We'll help yous go up to speed on average home maintenance costs so you tin can budget effectively. HomeLight did days of inquiry and compared three elevation studies on boilerplate home maintenance costs to bring you this comprehensive guide.
Average annual abode maintenance costs range from $950 to $9,820
Depending on the study, estimates for annual home maintenance costs differ. Here's how major three home maintenance cost studies compare:
National Clan of Home Builders: $950 a year on average
The National Association of Home Builders (NAHB) analyzed home repair information from the 2022 American Housing Survey (AHS), a study conducted equally role of the U.South. Demography. NAHB analyzed the cost of small, regular maintenance tasks (as opposed to significant repairs like roof replacement) to get an accurate picture of boilerplate annual home maintenance costs.
Key takeaways
- Costs vary significantly depending on the size, value, and location of your home.
- Maintenance costs are well-nigh double for older houses than newly constructed homes.
- Major projects significantly impact the overall cost of maintenance.
Porch: $9,820 a year on average
Porch is a domicile services platform that connects homeowners with contractors and other providers. In their 2022 study, Porch generated a list of all dwelling house maintenance transactions completed through their platform and excluded any jobs that included the keywords "repair," "build," or "install. They analyzed the remaining listing of 170 maintenance items, including larger tasks like pool filter replacements and roof repairs, as well as smaller jobs like lawn intendance and faucet replacements.
Porch then interviewed 200 homeowners, asking them how frequently they complete these tasks. Porch calculated average home maintenance costs by multiplying the average cost per maintenance task with the average project frequency.
Fundamental takeaways
- Pregnant, infrequent repairs significantly raise overall maintenance costs.
- Pool cleaning is the most expensive regular maintenance cost for homeowners.
- Average maintenance costs can vary by 85%, depending on the state.
Angi Homeservices: $iii,192 a year on average
In 2022, Angi, parent company of home service websites Angie'due south List and HomeAdvisor, surveyed v,000 U.S. homeowners and renters on home maintenance costs.
Key takeaways
- Average annual maintenance costs increased by 188% from 2022 to 2022.
- The number of boilerplate home maintenance projects completed per twelvemonth increased by 23% over the same period.
- Home emergency spending averaged an additional $1,640 per yr.
Common home maintenance projects toll
While the average annual home maintenance cost varies widely study to written report, you tin can estimate your annual expenses by accounting for the specific needs of your property.
The below table includes the boilerplate price of the most common habitation maintenance projects:
| Chore type | Average hire-out cost | Average DIY cost |
| Lawn intendance | $540 per yr for bi-weekly trim, fertilizing, and cleanup | $159-$three,000 for a power mower $25-$100 for each fertilizer treatment |
| Lawn Aeration | $70-$190 | Aerators cost $25-$ninety |
| Tree trimming | $fourscore-$1,000 per tree (experts recommend trimming mature trees every iii-5 years) | All the necessary equipment comes out to around $600 simply will cost more if the chore takes multiple days. |
| Hedge trimming | $sixty-$75 per hour | Manual hedge trimmers tin can cost as footling as $10, while automated models range from $100-$700. |
| Pool maintenance | $one,800-$iii,200 per year | $300 for electricity $60-$120 for water $238-$775 for chlorine |
| Exterior paint job | $1.l-$iv per square foot (fresh exterior paint is recommended every v-ten years) | $0.75-$2 per foursquare foot |
| Roof repair | $1.50-$iii.00 per foursquare foot for labor $ane.fourteen-$xi.36 per square foot for materials | $8-$20 for sealant $6-$ten per foot for flashing $1.20-$4 per square pes for shingle replacement |
| Nether sink filter replacement | $200-$one,300 | $50-$400 for a filter |
| HVAC maintenance | $100-$150 | $v-$100 for filters $300-$600 for an AC motor $35-$55 per foot for ducts |
| Professional window washing | $151-$366 | $10-$30 for a squeegee $17 for a gallon of Windex |
| Carpet cleaning | $0.20-$0.40 per foursquare foot (usually $120 to $230) | $30 per twenty-four hours for carpet cleaner rental $17 per bottle of cleaning solution $6 per canteen of pretreatment solution |
| Light bulb replacement | northward/a | $1-$eight per light seedling |
| Termite control | $175-$400 for annual termite contract | $50-$370 for termite treatment systems |
| Foundation inspection | $200-$400 | due north/a |
| Septic system pumping | $250-$500 (recommended every 3-v years) | n/a |
Sources: Fixr, Angi, HomeAdvisor, HomeServe, HomeGuide, Lawnstarter, Lawn Gadget, Certapro, Family Handyman, Brower Mechanical, Home Depot, Consumer Reports, The Simple Dollar Bob Villa, E.P.A.
Major home repairs cost much more than
Beyond regular dwelling house maintenance, homeowners must tackle major repairs from time to time. A recent Porch survey constitute that 88% of homeowners consummate at least one major repair a year.
These major home repairs bump up the average yearly cost of home maintenance. Here'due south what the almost common major repairs toll:
| Major repair type | Boilerplate cost | Frequency of repair |
| HVAC replacement | $5,000-$10,000 | Every 10 years |
| Roof replacement | $5,570-$11,415 | Every 12-75 years depending on the fabric used |
| Foundation repair | $2,021-$7101 | Foundation issues depend on environmental factors, foundation material, and construction age |
| Septic system repair | $629-$two,885 | Septic systems typically terminal fifteen-40 years |
| Water heater replacement | $814-$one,587 | Every xv years |
| Electrical rewiring | $1,500-$10,000 | Every xx-40 years |
| Mold remediation | $one,500-$3,500 | Mold is more common in humid areas and is less of a problem in well-ventilated homes |
| Termite damage repair | $iii,000 | Termite damage repair is typically only necessary in homes that accept not had regular termite handling. |
| Water damage repair | $3,000 | ane in 50 homeowners will deal with h2o damage in a given year. |
Sources: Forbes, EnergyStar, Angi, RoofAdvisor, HomeAdvisor, Crosstown Engineering, Mr. Rooter, Thumbtack, Practiced Trades, Fixr, C.D.C, E.P.A.,
Now that y'all know the costs, plan a budget for home maintenance
As a rule-of-pollex, homeowners should budget i% to 3% of their home'southward value a year for dwelling house maintenance. Alternatively, you tin can use the "square footage rule," which advises homeowners to upkeep $1 per square human foot of their property per year for home maintenance.
On a concluding note, if you live in an surface area with natural disasters, your boilerplate annual home maintenance may increment due to related repairs. Information technology'due south critical to accept natural disaster insurance to embrace these costs. Homeowner's insurance policies typically don't cover damage caused by uncontrollable events like earthquakes, floods, or tornados.
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Source: https://www.homelight.com/blog/average-home-maintenance-costs/
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