No matter what it is, everything will eventually need to have maintenance or repairs done on it. While you can just get a replacement for many things, large investments like heavy machinery or your own home are going to simply need to be fixed or upgraded rather than completely replaced. And while this can often save you money in the long-run, maintenance costs are often more than people would like to have hoped. So to help you not break your bank every time you need maintenance or repairs done, here are three ways you can save money on your home repairs.
Budget For One Percent
With home repairs, Paula Pant, a contributor to The Balance, writes that many people choose to create a budget based on the principle of the “One Percent Rule”. This rule theoretically means that each year, you plan to save one percent of your home’s value to use on home maintenance or repairs because the necessity of regular home maintenance is on par with your safety. Realizing the importance of fixing minor problems in the house during the year, could save you from spending those one percent savings. Some years you might use hardly any of that money from the one percent while other years you might use more than one percent. On-time repairs could cut down on hefty costs that you might incur if you wait until the last moment for the necessary fixes to your house and its appliances. Regular repairs in regard to plumbing, roofing, minor glitches in your electrical appliances can go a long way to save you from exorbitant costs. Service providers like Total System Services (check them out at tsshvac.com) can provide you the necessary consultation and solution for your problems regarding the maintenance of your HVAC appliances.
So if you plan to budget-saving one percent each year, you should be covered or at least offset most costs for home maintenance over the life of your home. If a problem with your HVAC unit arises, for example, you may want to reach out to the likes of In Phase Electric & Air: HVAC Services in Oconomowoc Lake. They may be able to help you get the unit up and running as it should be once again.
Practice Preventative Maintenance
Arguably the best way to not have to spend a ton of money on costly home repairs is to practice preventative maintenance. By simply taking good care of your home and noticing when something seems like it might need to be looked at, you could save yourself from getting into a situation where you need to take emergency action. Many issues arise because of termite problems within the foundations of the home and need to get things like Terminix hawaii and other places to get this sorted. Furthermore, John Riha, a contributor to HouseLogic.com, shares that some of the preventative maintenance you should periodically do on your home includes surveying the interior and exterior for red flags, using caulk to fix small sealant problems, being gentle on your HVAC and hot water systems, and cleaning your gutters. By doing these things, you’ll better get to know your house and be able to tell when bigger repairs need to take place.
Do What You Can On Your Own
When maintenance and repairs are needed, if you can do the work on your own, you’ll be able to save a lot of money when compared to hiring help. However, it’s not only the small projects that you can lend a hand with. Claes Bell, a contributor to BankRate.com, advises doing any work you can on your own before calling in help. This means that you can take care of some of the demo work or painting before calling in a professional to finish the job with the plumbing or electrical. Just make sure you’re comfortable with what you’re doing so you don’t end up having to make additional repairs based on your own work. If there needs to be repair work done to your electrical panel, that is best to be left to the professionals as the risk of injury can be high. There are companies such as MZ Electric (visit their website), that can assist with this, alternatively, you can check your local area for this type of help. Always be aware of what you can and cannot do, it will save you a lot of time and a potential injury.
If you want to be able to save money on costly repairs, use the tips mentioned above to help you do just that.