You have the home and now it’s time to think about repairs and upkeep. There is a way to overcome this part on a budget.
One Percent Rule
For many people, the One Percent Rule is not possible. The rule states that one percent of the purchase price of the home is what needs to be set aside in order to maintain the home. You may not spend that much per year, it is simply a meter to use. The rule does not take into consideration market peak times – where you may have bought the home at a low or a high time.
Square Foot Rule
Another rule is the Square Foot Rule where you should budget for every square foot at one dollar ($1) for every year. Some would tend to agree that this rule makes more sense as it is related to the actual size of the house. One drawback is that the square foot does not take into consideration the fact of labor and material costs in the area.
Both methods can give you an overview of how much it could be. Some quick methods on budgeting include:
Most home services contractors offer some type of coupons. Check out their website or the local paper to get an idea of prices, coupons, or specials regarding a service you’ll need. Sometimes when purchasing a larger unit like an AC unit or a heat pump, there are mail-in rebates that homeowners can claim. If you’re in the market to purchase a new one, see if that is an option for you.
Reoccurring Maintenance Programs / Preventative Maintenance
HVAC companies often times run preventative maintenance plans as an option for homeowners. Keeping your home tune-up is the ideal way to ensure that your spending on home care is at it’s lowest possible mark.
For example, here at Rusk we offer Preventative Maintenance, which makes sure we provide:
- Peace-of-Mind – Fewer Repairs and Breakdowns
- Extends the Life of Your Equipment
- Comfort When You Need it! – Improved System Reliability
- Increased Heating and Cooling Capacity
- Saving You Money! – Reduces Monthly Cooling and Heating Costs
- Same Day Service When You Need it – Priority Customer
- Adds Value to Your Home – Maintenance Agreement is Transferable
- Save Money on All Necessary Repairs – Discount on Repair Service
- Service at Your Convenience – 24-Hour Emergency Service, 365 days a year!