How much does it cost to maintain a house?

Homeownership is a huge accomplishment, but it also requires considerable responsibility even after the home is yours. From monthly mortgage payments to keeping the home in good condition, there are many costs that could sneak up on you.

According to the Australian Bureau of Statistics, about 66% of Australian households owned their home in 2019-20. If you are a part of this statistic, you might already have an idea of how much maintenance owing a home requires. On the other hand, if you're thinking about buying a home in the future, it's important to understand these continual expenses. Here, we'll break down some of the most common maintenance costs.

What contributes to house maintenance?

Not every house requires the same amount of money to sustain its good condition; there are several factors worth taking into account. Here are some of the main things to keep an eye out for:

1. The age of the home: Older homes may require more maintenance due to wear and tear over time.
2. The weather: Whether you live in a dry, wet or humid climate, different environmental factors will impact the cost of taking care of house.
3. Purchase condition: If you bought a house in relatively poor condition, it will obviously take more money to maintain than a house that was purchased in peak condition.

There are other factors that are at play when it comes to maintaining a house, and it's important to be aware of how your unique living situation impacts these costs.

Common house maintenance projects 

Every year, you should do a few routine maintenance projects to prevent larger costs down the line. Taking regular care of your house can protect the investment that was your home. Each house may have a different maintenance requirement, but here are some of the most universal things that homeowners should pay attention to:

• HVAC maintenance: Taking care of your HVAC system is important because it can expand the lifespan of the system and increase air quality. 
• Cost: $200-$1500

• Roofing maintenance:  The roof is one of the main parts of your home that will take a hit due to weather erosion. Yearly upkeep can prevent lost tiles, leaks and faded paint.
• Cost: Between $38 and $50 an hour

• Plumbing maintenance: There's nothing worse than a flood due to a leak in your plumbing. Cleaning and maintaining your plumbing will keep this important functionality working well.
• Cost: Between $100 and $150 an hour

• Structural integrity maintenance: This includes taking care of your home's walls and foundation. Hopefully, you can catch damage to your foundation before it gets too bad.
• Cost: $5000 to $1500

Are you ready to learn more about homeownership? Reach out to Ray White Surfers Paradise today to get started.