Repairs and maintenance: budgeting for reality

Plain-language guidance to help you budget and avoid surprises.

Why maintenance is a cost category

Every building ages. Even a well-built home needs periodic maintenance and occasional major repairs. Ignoring maintenance often increases long-term costs.

Common “big ticket” items

• Roof replacement or repairs
• Furnace / heat pump / A/C replacement
• Hot water tank
• Plumbing leaks or drainage issues
• Electrical panel or wiring upgrades
• Windows, doors, insulation improvements
• Foundation or water management fixes (grading, sump, drainage)

A simple budgeting approach

Many owners use a “maintenance reserve” — a monthly amount set aside for repairs. The right amount depends on the property’s age and condition.

If you buy a home with deferred maintenance, expect higher costs early.