DIY : Renovation Expenses for New Homes
After you sign on the dotted line and get excited about your new home, there are 3 things to watch out for that contractor Brian Marshall in Tampa says…some renovations just don’t stop at the paperwork when purchasing a new home.
Contractor Brian Marshall Tampa shares 3 expenses to consider for first-time homebuyers…
Contractor Brian Marshall: “Emergency” Home Repairs
Owning a home comes with a list of never-ending projects that you’ll put on a “To Do” list and get to it when you get to it. But what happens when repairs need your immediate attention such as the toilet overflowing, the dishwasher breaking, or a leak in the roof? Is the money you’ve set aside for your home repair “emergency” budget enough?
A big mistake new homeowners make is that they think the amount of their mortgage equals the full amount of their home repair and maintenance budget…that’s just not so.
Along with owning a home comes great responsibility and in some cases, great cost like repairing a leak in the roof, or worse, replacing the entire roof.
Experts say a reasonable estimate and a good rule of thumb is to set aside 1% to 2% of the home’s purchase price for repairs/expenses in a separate account. Another way most people determine how much money to save for emergency home repairs is by the size of their home.
Either approach works. Depending on the age of your home, some months you’ll spend very little on things here and there, and other months you may have costly expenses and repairs that you’ll be proud of yourself for making the extra effort and saving for emergency home repairs.
Contractor Brian Marshall: Home Maintenance
Check the HVAC and smoke detector, change the air filter, clean the gutters…the list goes on and on when you’re a homeowner to maintain your property on a monthly basis.
Most of these home maintenance items are things you can do yourself like clean gutters, mow the lawn, plant sod, and some you should call a professional for things like building a deck, installing fences, or replacing windows.
Even for those items, you can do yourself, there’s still a cost, such as the material. For other maintenance that you’ll need to call a professional, there’ll be an even higher cost when you factor in the labor with the material.
Yeah, owning a home is a lot of work…but doesn’t have to cost a lot of money.
Contractor Brian Marshall: Basic DIY Home Repairs
You don’t have to be a contractor — nor have to call one- for basic home repairs, but you’ll have to roll-up your sleeves and do it yourself. I’m sure you prefer to be lounging by the pool or going shopping, but you should at least know the basics instead of relying on someone else, and more importantly, paying someone else to do what you can do.
Some basic DIYs you should know or learn as a homeowner includes painting, caulking, fixing a leaky faucet, clearing a clogged toilet, and replacing a light switch.
For serious or complicated electric, plumbing, or repair work, you’ll need an expert to handle the job, but for little things around the house, these are pretty simple life hacks that can save you money when a professional isn’t needed and when you have a budget.
Regardless of the size, price, or condition of your property, as a homeowner, you should expect things to break, upkeep throughout, and some good old elbow grease to keep your home in peak condition. ~ Contractor Brian Marshall Tampa