What could a 5 year home maintenance budget look like?

What could a 5 year home maintenance budget look like?

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Everyone’s circumstances differ. However let’s take a look at what a 5 year budget for maintaining an average residential property could look like. For the purpose of this example the original condition, 3 bedroom double brick residence was built 15 years ago, is 150m2 in area, 70 linear metres in total dimension and sits on a fenced quarter acre block. Use the ‘Maintenance Task Categories’ in this table to calculate your own 5 year maintenance budget.

Maintenance task categories

5 year $ total

Damp repairs (rising damp/salt damp) 

  • Silicon injected damp-proof $120 x 70 linear metres
  • New air vents x 4 @ $24 each
  • Replastering of damaged plaster $1,470 (doesn’t include the cost of painting)

$9,500

Doors and door hardware repair

  • DIY replacement of 2 internal doors and handles @ $250 each
  • DIY replacement of 3 kitchen cabinet hinges @ $25 each
  • Repair of sliding door on built-in robe. Labour @ $40 per hour x 2.

$655

Drainage

  • For the purpose of this example, there are no drainage issues anticipated. But keep in mind, drainage related repairs can be very inconvenient, let alone costly!

$0

Electrical faults and repairs

  • 3 call outs calculated on a minimum service call fee of $78 each time. Then 2 hours investigation and repair for each call out at an additional $46 per hour plus 2 power point replacements at $80 each.

$670

Exterior painting

  • The window frames, door frames, fascia boards and balcony decking and pergola are due for a new coat of paint. Labour will cost you around $39 per hour and paint supplies around $12 per m2.

$2,500

Fencing and gate maintenance

  • The front gate needs to be replaced, otherwise the fences are in good repair. DIY replacement of the gate will cost around $465.

$465

Floor repair and /or floor coverings, including cleaning

  • Floor coverings have all recently been updated. A twice a year steam clean of all new wool blend carpets at $69 per room x 5 rooms is  budgeted for.

$3,450

Gardening, including weeding

  • This low maintenance garden needs some regular weeding and pruning. $40 per hour for 2 hours every 8 weeks is budgeted for.

$2,400

Heating and cooling systems

  • Reverse air cycle heating and cooling was installed two years ago. The owners are just keeping their fingers crossed that the next 5 years will be maintenance free. No budget for repairs or maintenance is included.
Interior painting

  • Interior paint is looking tired. Painting of all 10 rooms at around $650 per room is budgeted for.

$6,500

Lawn mowing and edging

  • $88 per job, or $760 per year.

$3,800

Lighting – replacement, cleaning and repair

  • 15 internal lights and 4 external lights. Average of $10 per globe (based on compact fluorescent light bulbs). The lifespan on these is around 4 years.

$190

Pest control

  • Once a year general domestic pest control @ $250.

$750

Planting and pruning of trees

  • Removal of one tree threatening the house at $1,000.

 

$1,000

Plumbing

  • Replacement of a hot water service, $1,180. Call out fee of $78 plus $46 per hour for installation.
  • 2 leaking taps and 1 gas leak that need repair.

$1,500

Restumping

  • $7,000 to restump a house. Fortunately in this example, the house sits on a concrete slab!
Roofing and guttering

  • Replacement of guttering and four downpipes.

 

$3,000

Sealing of wet areas

  • Waterproofing of leaking shower and bath.

$650

Tile repair, replacement or re-grouting

  • Covered by the waterproofing job above.
Windows

  • Replacement of two south facing windows due to dry rot.

$1,500

Woodwork repair

  • Covered by the replacement of windows above.
Grand total of 5 years worth of maintenance costs

$37,780

Disclaimer: Most labour and supply costs have been calculated according to Archicentre’s 2010 maintenance guide and taking the minimum cost in the price range quoted. Other costs are estimates for the purpose of providing a working example. Please ensure to seek out precise quotations from service providers and suppliers in fleshing out your own 5 year budget.

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