Home Maintenance Can Cost Up to $2K a Year

DAILY REAL ESTATE NEWS | TUESDAY, FEBRUARY 20, 2018

Homeowners may be surprised at how some extra costs really add up. A new survey by Bankrate.com shows that the average homeowner spends an average of $2,000 per year on maintenance services.

Sixty-three percent of more than 2,200 respondents recently surveyed say they use at least one recurring maintenance provider. Thirty-five percent say they use two or more.

The most common services and their average monthly costs for homeowners are:

  • Housekeeping: $285
  • Homeowners’ association dues: $210
  • Landscaping: $144
  • Home security system: $130
  • Pool care: $123
  • Snow removal: $84
  • Septic service: $67
  • Private trash/recycling collection: $55

Further, researchers found that usage of such home maintenance services tends to increase with age and income.

“These figures illustrate the hidden costs of homeownership, and it’s important to note they don’t include repairs such as a broken refrigerator, washing machine, or air conditioner,” says Taylor Tepper, a Bankrate.com analyst. “These are just ongoing, routine tasks like keeping your house and yard clean. Make sure to factor these costs into your new budget when you buy a house. Or do them yourself to save thousands of dollars each year.”

Source: Bankrate.com