Hidden Costs of Home Ownership nearly $15,000 annually
- Nikhil Abraham
- Apr 5
- 2 min read
You've just celebrated purchasing your new home - how much will your home cost in annual maintenance and expense? A recent Zillow study reveals hidden costs of home ownership that can accumulate and catch many homeowners by surprise. Understanding these expenses is essential for any new buyer.
Three unavoidable expenses for single-family homeowners include property taxes, homeowners insurance and utility payments for energy, water, natural gas and internet. These expenses average $7,742 in total nationally. The last category is repairs and maintenance, and while homeowners nationwide spend $6,000 to $9,000, the good news is that being proactive can help bring this cost down.
Repairs and Maintenance: Planning for the Unseen
The rule of thumb you'll hear from Bob Villa and most guides is to expect to spend 1% to 4% of the home's value annually on maintenance and repairs. This spending covers everything from routine upkeep, like lawn care or gutter cleaning, to unexpected repairs like fixing a leaky roof or repaving the driveway. Proactively addressing issues today can reduce the burden of expensive repair or replacement later.
Based on data from millions of home maintenance projects there are 17 essential projects to not overlook:
Appliance maintenance
HVAC maintenance
Deck staining and sealing
Duct and vent cleaning
Fireplace and chimney cleaning
Full-service lawn care
Gutter cleaning and maintenance
Heating system maintenance
House cleaning
Pressure washing
Roof maintenance
Sprinkler and irrigation system maintenance
Tile and grout cleaning
Tree trimming and removal
Water heater maintenance
Window cleaning
Carpet or hardwood floor cleaning
These tasks cost between $6,000 and $9,000.
Final Thoughts: Planning Ahead for Home Ownership
Modern Home Help can help with all these common home maintenance tasks. With our convenient app, you can prioritize your to-do list, schedule your dedicated handyperson, and request referrals to specialist service providers. Text (781) 694-6635 to learn more, or schedule a free walk-through now at ModernHomeHelp.com.