How Much to Budget for Home Maintenance
Homeownership costs go beyond the down payment and monthly mortgage. You’ll also need to plan for maintenance costs — and these can add up fast. Depending on the age of your home and where you live, repairs and upkeep may cost thousands each year. Knowing what these costs could look like will help you plan, avoid surprises, and protect your investment in your home.
What Expenses Can a Homeowner Expect?
Homeownership comes with several ongoing costs. Some expenses are paid monthly, while others come up once or multiple times a year.
Typical expenses homeowners should expect include:
- Property taxes and insurance (These costs may be included in your monthly mortgage payment through an escrow account.)
- HOA fees (If your home is part of a homeowner’s association)
- Utilities (Like water, electricity, sewer, trash, and gas)
- Planned repairs and updates (Like replacing appliances, painting, or making improvements)
How Much Should I Budget to Maintain My Home?
The amount you need to budget depends on the age and condition of your house and what features it includes. Each year, many homeowners set aside 1% to 4% of their home’s value for maintenance costs.
Common home maintenance costs include:
- Major appliance replacements: These often happen within the first year.
- Heating and air conditioning systems: These can cost up to $3,000 to maintain and much more to replace.
- Lawn care and landscaping: These costs can add up, whether you do the work yourself or hire a professional.
- Pool maintenance: These costs are ongoing and include cleaning, chemicals, and repairs.
In November 2025, Zillow® and Thumbtack® reported that hidden homeownership expenses, including maintenance and repairs, cost the average homeowner roughly $16,000 per year nationwide.1
How Do I Protect My Investment?
While major costs like roof replacement, appliance repair, and heating and air conditioning systems may be top of mind, keeping up with everyday home maintenance tasks is critical to preventing additional expenses in the future. Consider scheduling regular upkeep for both the inside and outside of your home.
Common indoor maintenance needs include:
- General cleaning
- Carpet cleaning
- Fireplace and chimney cleaning
- Tile and grout cleaning
- Heating system maintenance
- Water heater maintenance
- Pest control
Common outdoor maintenance needs include:
- Deck staining and sealing
- Pressure washing
- Roof maintenance
- Gutter cleaning and maintenance
- Sprinkler and irrigation system maintenance
- Tree trimming and removal
Why Is Home Maintenance Worth the Costs?
Creating a warm, welcoming space for you and your loved ones is one of life’s most rewarding pleasures. Regular maintenance not only beautifies your home, but it also helps protect your investment and reduce unnecessary expenses. At KeyBank, we can help you create a home maintenance plan that fits your budget. Schedule a Financial Wellness Review today.