New homeowners quickly discover that home ownership entails more than just the costs of a mortgage, taxes, and insurance. Some of these expenses are ongoing, while others can mean a hefty bill that occurs unexpectedly. Here are some of the most common expenses that occur regularly that new homeowners seldom account for in the family budget.
Landscaping Maintenance
Many people will overlook the landscaping needs of a property when they are house hunting, but it can turn out to be a significant yearly expense. Some types of shrubs need regular pruning, large lawn areas need cutting, and a large number of trees may mean expensive trimming costs, not only for appearance, but also for safety.
Roof Repair or Replacement
Over the years, your roof may show signs of wear and tear that require attention. If you have purchased an older home, a full roof replacement may be necessary. This can be a costly expense, but one that helps to secure the integrity of your home’s materials. Roofing professionals, like Top Ridge Roofing & Restoration, can ensure that your roof is functioning well.
Exterior Maintenance
Certain maintenance tasks on your home’s exterior will be necessary to keep it looking attractive and to maintain its value in the marketplace. This includes siding repairs, tuck pointing, window repairs, gutter replacement, and stair repairs or replacement.
Interior Maintenance
Normal use of your home's interior can also cause wear and tear that requires periodic repair or restoration. Expenses like plumbing repairs, electrical work, and remodeling of your home’s interior to maintain its value in the real estate market can add up quickly. Depending on your needs, these repairs and updates can cost thousands of additional dollars per year.
Pest Control
Any home can develop a pest problem. Carpenter ants, spiders, sugar ants, and other insects may require regular treatment by a professional pest control technician. If you have large, wooded areas on your property, you may have problems with raccoons nesting in areas, bats in your attic or other creatures trying to make a home in your home. These may be an unexpected, but very necessary expense in your budget.
One of the great pleasures of owning your own home is making it a comfortable refuge for you and your family to enjoy. Doing this may require a number of tasks that can add to the monthly or yearly budgeting. If you are aware of these issues, you will be better prepared for the additional expense.
