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Home Maintenance in Denver

How to Save for Home Maintenance

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Home Ownership in DenverFor most people, a house is the single biggest investment they will ever make in their lives, so it is only right to assume that this is an important milestone. Whether you are buying your first house or moving to a new one, a new home is almost always a cause for celebration.

Even as you approach the purchase with a smile from ear to ear, chest thumping in excitement, remember that the cost of ownership of a house does not end when you’ve paid the total price tag. The cost of ownership is something you have to live with for as long as you own the house — any house. To help you avoid the ‘shock’ after the purchase, here is some advice.

Think about maintenance

It may not be as high as the buying price, but maintenance is not cheap, either. Talk to your Denver real estate attorney about the property you are planning to buy, and perhaps they may also be able to discuss the estimated maintenance price, as well. Most experts estimate about 2 to 4 percent of the total price of the house is what you should save every year for maintenance.

Don’t wait for something to break

Parts of your house will get old and possibly become damaged through time, as they are exposed to the elements or regular use. Clean, repair, or replace things before the damage gets worse and other parts are affected. Call a plumber to maintain your plumbing system, and have your HVAC cleaned regularly. It will cost you money, but letting damage spread will cost you even more. It is also a good idea to learn a few DIY repair tricks.

Lower your expenses

To be able to save that much money, it may be wise to lower your expenses. There are some aspects of your life that you may save on; for example, if you are going to buy a car, go for something less pricey to own. Instead of getting a BMW, for instance, buy a regular Ford or a Toyota. The maintenance of a luxury import is significantly higher. It may also be a good investment to install solar panels. These are not cheap, initially, but they are low-maintenance and they will save you a lot on energy bills. Avoid spending on things that you don’t need, like new shoes every payday.

Being a wise homeowner means taking home maintenance into account every year. Nip any maintenance problems in the bud, before they can get any worse, and you will save enough every year for repairs and replacements that can’t wait.

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