In case you didn’t know, the initial cost and the cost of daily living in your new home isn’t all the expense that you’re going to have to handle. You’re going to have to deal with the expenses of maintaining your new home as well. That’s right – cleaning, repairs and replacements are going to have to become a part of your budget if you want to live comfortably in your new home.
The better you budget your finances, the better you are able to handle them when the need arises for home maintenance. Check out some great tips that can be a very useful part of your new home’s maintenance budget.
- First, you need to build a reserve by setting aside at least 1 to 3 percent of the purchase price in a savings account designated for your home maintenance and repair costs. You can do this on an annual basis as a very large deposit, or you can do this month-to-month on a smaller scale.
- You also need to cut down on your every costs. Limit your use of non-energy-efficient appliances and light fixtures. That’s a part of maintenance budgeting as well.
- Make a careful assessment of your needs. Always work within your budget and make sure to prioritize the maintenance projects you want to work on. Manage your budget so that if you need to do bigger projects, you can get an estimate done and start saving more money for them.
- Try doing some of the minor maintaining yourself. Sometimes, you can save a lot of money on maintenance when you learn the process and do some of the work on your own instead of calling a company to do it for you.
- Always save your money first, so that you don’t have to do major things like open a new credit card or get a home equity loan to take on your big maintenance projects.
If you are looking for the perfect home in Almonte, consider the Riverfront Estates. These Almonte home developments offer solid construction by Almonte home builders Inverness Homes and Doyle homes through a partnership for building Almonte new homes. The perfect place to raise a family combining easy access to Ottawa and city features with picturesque nature scenery and a friendly neighbourhood oasis.