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Does it feel like every little home repair suddenly comes with a big price tag? This year, even the simple “honey-do” tasks are turning into budget surprises. We’ve all had that moment when we walk into the hardware store for a $5 part and somehow walk out $200 lighter.
That’s our current reality; rising prices, supply delays, and labor shortages have teamed up to make home maintenance more expensive than ever. The numbers really have climbed, and homeowners need to plan smarter than they used to.
Let’s break down what’s happening and how you can protect your home and your wallet.
Why home maintenance costs are skyrocketing. Inflation is the obvious culprit why everything from paint to plywood has gone up. Contractors suddenly want to charge more because materials, shipping, and manufacturing all cost more now. Even small things like screws and caulk have crept up in price.
When you’re planning any project, build in a 15% to 20% cushion. Think serves as a safety net for when prices decide to jump without warning.
Labor shortages. Something that makes things even harder is the fact that skilled tradespeople are harder to book. Electricians, plumbers, and handymen are in high demand, and they know it. What used to be a same-week repair can now take several weeks to schedule.
If you have a contractor who shows up on time and does great work, treat them like gold; they’re basically the unicorns of the home improvement world right now.
Skipping important home maintenance. Deferring repairs might feel like you’re saving money, but small issues turn into expensive problems fast. Don’t let a tiny leak become water damage, and a worn roof become an emergency. A good rule of thumb is to set aside 1% to 2% of your home’s value each year for maintenance. Most homeowners will use it.
Renovations and remodeling costs. Kitchen refreshes that were affordable a few years ago now run 25% to 30% higher because both labor and materials have jumped. If you want good ROI without breaking the bank, focus on small but high-impact updates:
- Repaint cabinets instead of replacing them
- Update hardware
- Swap light fixtures
- Refresh paint
Cosmetic improvements can go a long way without the cost of a full remodel.
How to stay ahead and keep repairs manageable. To avoid being caught off guard, here are some tips for you:
1. Prioritize the high-impact items. Your roof, HVAC, plumbing, and electrical matter most. These are the essentials that keep your home safe and comfortable.
2. Build a sinking fund. Think of it like your home’s emergency savings. Add a little bit every month so surprise repairs don’t hit as hard.
3. Always get multiple quotes. Prices vary more than ever, so comparing estimates can save you real money.
Your home is an investment, so plan for it. While you can’t control inflation or labor shortages, you can control how prepared you are.
Planning ahead brings peace of mind, and that’s something you can’t put a price on. If you have questions or need help figuring out where to start, feel free to call, text, or email me anytime at (818) 903-5854 or tammyjerome@gmail.com. I’m here for you 24/7.
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