Home repairs can be expensive, especially when you aren’t prepared. Most experts recommend setting aside a certain amount each month to have a budget specifically for home maintenance. That amount can range from 1% to 4% of your home’s value. For a $250,000 home, that is $2,500 to $10,000. A home protection plan in California can help you better navigate the repair bills that are inevitable in any home. Here’s what to think about.
Home Repair Plan in California – How Much Should You Have for Maintenance?
In your $250K home, you may be able to get away with just $2,500 in maintenance costs if your home is newer, under 10 years old, and you live in a mild climate. You may need to put away more maintenance costs if your home is over 30 years old or you live near the ocean or in a place that gets more severe weather. The larger your home, in square footage, the more you want to have set aside. But you also need to consider how well the home has been cared for. If you or the previous owners weren’t good about regular maintenance, you may want to put aside even more. That 4% isn’t going to go far if you have multiple repairs over one season, especially if you need to replace your roof.
How Can You Mitigate Your Budget for Maintenance and Repairs?
It’s a given that you are going to have to spend money on maintenance to keep your home operating well. The big question is how to maximize your budget without putting all your extra money into your home. A home repair plan in California can help you plan your budget more effectively. Instead of taking care of each repair as it happens and worrying about the cost of each repair, with your home warranty, you pay an annual fee for the plan and then a small service fee when you need a technician. A home warranty can help you cover repairs or replacement of appliances or major systems in your home. You won’t be surprised by a $10,000 bill to replace the HVAC system or an $800 bill to get a new refrigerator.
The Best Home Protection Plan in California
Get a home warranty application in California to protect your budget and your home from HomeGuard HomeWarranty.