Do You Know What Your Home Really Costs You?

Mompreneur Home Maintenance

So most people remember what they paid for their home and can quickly get an estimate of what they think their home’s current value is, but a lot of homeowners really do not track the details of their home and therefore the are unaware of the true costs of their home. Besides paying a mortgage, insurance, homeowners association fees, you may ask what else is there?

[Tweet “What is your #home maintenance really costing you? Save $ with this tool.”]

Home Maintenance Costs

Homes require consistent maintenance to make sure they are working properly. Not to mention, to protect the family against any potential danger like an unexpected fire. Tracking annual maintenance costs can help prepare any homeowner for ongoing budgeting. If you are aware of what you are spending, then you can proactively structure a household budget around your annual maintenance spend. This can help prepare for the unexpected. There is nothing worse than when your air conditioning units go out in the middle of summer and the expense to fix them is cutting into your vacation budget. By allocating between 1 – 4% of their home’s value for annual maintenance costs depending on the age of the home is a good rule of thumb. By keeping your  home well-organized, and keeping track of everything you need to maintain and when, you can stay on top of your costs and better estimate your budget year over year!

Equipment Wear and Tear

When you do not care for your home and the equipment and appliances in the home, then you start realizing wear and tear on these items from overuse. Checking heating and air conditioning units, furnaces, hot water heaters and more can help keep your equipment operating properly and that unexpected problem that may arise will not cut into your budget. Also, when your equipment is not cared for, it will work harder to operate which could cause early breakage of the equipment thus causing early replacement of the equipment. Early replacement can be an expense that you were unprepared for and may not have the funds causing stress and a change to your overall budget.

Energy Costs

By not maintaining or cleaning specific areas of your home, you will find that your energy bills could be higher than normal. When you have a dryer vent that is full of lint, the dryer takes more time and more energy to get your clothes dry. When your refrigerator coils are dusty and have particles in them, then this too causes your refrigerator to operate harder to keep your food cold. When you have areas of your home like window seals that are not sealed or air is allowed to escape, your air conditioning and heating units are required to work harder. When your equipment and appliances are working harder, then your energy bills are going up. Also having energy efficient units in your home will also help with your energy bill, but care for these items still need to be maintained in order to manage their use.

How do you track all this information and details about your home to help you better understand how to save money or know what you are spending within your home? Using digital home management systems can help you organize and manage these details. Organizing your household activities can help you manage your expenses and more importantly make the best decisions for your home and your family.

Please share your thoughts and comments

Is home maintenance and management and area in which you struggle as a Mompreneur?  Or do you have a system that helps you keep track of the all the details? Please share your tips and trick with us!

********

Thank you so much Elizabeth! Managing our homes as well as our businesses can be challenging for us Mompreneurs.  This tool is a step in the right direction to sanity!

Elizabeth Dodson is the co-founder of HomeZada, a cloud-based home organizational software. HomeZada strives to educate and provide resources for homeowners in all areas of home management, including home improvement projects, maintenance, inventory, property information and property value. Check out HomeZada for more helpful tips!  To learn more about HomeZada, visit the website and connect on Facebook, Twitter, Pinterest and Google+!