Anonymous wrote:checkbook did a study that maintenance contracts are worthless and in fact are ways for companies to suggest new work.

What were the emergencies? I am thinking maybe the emergenancies were inflated by your service companies and they charged a lot. I would be you were over charged on your attic insulation and all work, the contractors can smell people who are clueless from a a mile away and rip them off.

Where in the OP did she mention maintenance contracts? Oh, wait, she didn't. You just posted to be a jerk.

bump

Can you guys put the age of your home when you post? I have a newer home but I have a dream of owning an older home someday and I want to know what I am in for!

1% sounds about right for us, but we purchased a fixer upper.

Since purchasing in 08 our repairs and maintenance big ticket items have been as follows:
Hot water heater and electrical upgrade
Windows and gutters
Furnace
Retaining wall, sump pump yard grading for run off.
AC system replaced
Washer/dryer

This was on top of gutting the kitchen when we moved in, which we had factored in when purchasing.

Then there always the $500 little thing, like the winter something tore up our roof on two different occasions and roofers have a 'just climbing on the roof' starting cost of $250 so in one month we wracked up almost $1000 of roof patching because of an animal.

So, in hindsight, 1% seems about right. Our home is valued at $575.

In 2013 we bought a short sale that was built in 2003 and had some damage and had not been lived in for 2 years. When we bought it we had to do some roof repairs, cosmetic repairs, replace the upstairs HVAC, and change the appliances. Since then we haven't had any issues, really.

We budget (in theory) 1% of the home value. So far that has been about right averaged over 3 years, with a little extra for non urgent cosmetic stuff.

I read about 1% the cost of the home per year on average is normal.

OP, it really depends on when the current systems were installed. Our house was built in 1960 and we bought it in 2008. We haven't had any major repairs yet.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:checkbook did a study that maintenance contracts are worthless and in fact are ways for companies to suggest new work.

What were the emergencies? I am thinking maybe the emergenancies were inflated by your service companies and they charged a lot. I would be you were over charged on your attic insulation and all work, the contractors can smell people who are clueless from a a mile away and rip them off.

Nope, not ripped off. They were legit emergencies, we went with some great guys to fix them. One fixed the second HVAC issue for only $10 -- cost of a part -- because he's a good guy and felt like he should have caught the issue when he fixed the first thing. They were unrelated issues though, and no way would he have caught the second issue without it becoming a problem first (bad timer on the compressor made the A/C not work).

I was hoping others would weigh in with what's a normal range for home repairs $$ around here per year. Some repairs are definitely unavoidable since, as PP put it, I don't live in a McMansion.

It is not easy to estimate, if you bought a new mcmansion and everything is new then that's pretty straight forward. A used home may have had different items installed at different times or are suffering from old system items (wiring, plumbing, insulation etc...)

So maybe I should have titled my post differently. Lots of people in this area have older homes, so hopefully I'll get a few useful responses.

If you don't have a new home, but have an older home, what are you spending on repairs?

Anonymous wrote:

Anonymous wrote:checkbook did a study that maintenance contracts are worthless and in fact are ways for companies to suggest new work.

What were the emergencies? I am thinking maybe the emergenancies were inflated by your service companies and they charged a lot. I would be you were over charged on your attic insulation and all work, the contractors can smell people who are clueless from a a mile away and rip them off.

Nope, not ripped off. They were legit emergencies, we went with some great guys to fix them. One fixed the second HVAC issue for only $10 -- cost of a part -- because he's a good guy and felt like he should have caught the issue when he fixed the first thing. They were unrelated issues though, and no way would he have caught the second issue without it becoming a problem first (bad timer on the compressor made the A/C not work).

I was hoping others would weigh in with what's a normal range for home repairs $$ around here per year. Some repairs are definitely unavoidable since, as PP put it, I don't live in a McMansion.

It is not easy to estimate, if you bought a new mcmansion and everything is new then that's pretty straight forward. A used home may have had different items installed at different times or are suffering from old system items (wiring, plumbing, insulation etc...)

Anonymous wrote:checkbook did a study that maintenance contracts are worthless and in fact are ways for companies to suggest new work.

What were the emergencies? I am thinking maybe the emergenancies were inflated by your service companies and they charged a lot. I would be you were over charged on your attic insulation and all work, the contractors can smell people who are clueless from a a mile away and rip them off.

Nope, not ripped off. They were legit emergencies, we went with some great guys to fix them. One fixed the second HVAC issue for only $10 -- cost of a part -- because he's a good guy and felt like he should have caught the issue when he fixed the first thing. They were unrelated issues though, and no way would he have caught the second issue without it becoming a problem first (bad timer on the compressor made the A/C not work).

I was hoping others would weigh in with what's a normal range for home repairs $$ around here per year. Some repairs are definitely unavoidable since, as PP put it, I don't live in a McMansion.

When you live in an older home, maintenance is never ending. They're called money pits for a reason.

that's what you get for buying a lovely old house instead of a mcmansion

checkbook did a study that maintenance contracts are worthless and in fact are ways for companies to suggest new work.

What were the emergencies? I am thinking maybe the emergenancies were inflated by your service companies and they charged a lot. I would be you were over charged on your attic insulation and all work, the contractors can smell people who are clueless from a a mile away and rip them off.

After an already expensive year (new attic insulation, two emergency plumbing issues, two emergency HVAC issues, and one emergency electrical issue), we have yet another electrical issue! ARGH.

We do all the scheduled maintenance stuff (HVAC biennial inspections, take care of our systems). But the maintenance is never-ending. I know this is within the range of normal, but seriously, what should we be paying on an average year (not replacing the roof, say)? We have enough in our savings, but it's annoying to see these big chunks of money come out on the regular.

(Also, I am somewhat handy but don't usually do electrical, HVAC, or plumbing. DH is completely hopeless at handiwork)