A 10-year-old Nashville homeowner details the exact cost of repairs
It's hard not to crawl when someone says renting is throwing money away. For most, it is not true – especially with home repairs and improvements. The average family spends $ 3.021 a year on maintenance, according to a report by Zillow and Thumbtack. But depending on where you live or the condition of your home, there may be much more.
Over the past six months, I've spent a lot of $ 21,140 at my 1950s home in Nashville, TN. I will admit that postponement made some of the problems worse. But the rest – well, they are part of owning a home. Here is a line-by-line overview of every dollar I spent.
Replacement of roofs and gutters: $ 7,873
When I bought the home, the inspector did not flag the roof for problems. But it was not entirely new either. Ten years later it was not a complete surprise when I needed to replace it. In addition, the squirrels managed to chew in ̵[ads1]1; damaged shingles, gutters and attics.
Attaching the Cracked Ceiling to My Cave: $ 3,900
About a year ago, I noticed that a hairline crack formed on the ceiling of my cave. When the crack deep and the roof began to sag, I could see it was more than a small, cosmetic solution. A small drywall patching would not solve it. To be safe I replaced the entire ceiling.
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Restoring the loft by animal injuries and squirrel safety at home: $ 3,602
Squirrels are inflexible. My crumbling roof made it easy for critters to chew holes in every corner. Before I knew it, a whole family had moved in. The longer they stuck around, the more damage they caused. They gnawed on wires, ruined the insulation and left the ceiling dirty. The ceiling repairs and cleanup took several hours. To prevent them from coming back, I added a squirrel guard bracket: ceiling guard, ventilation covers and flashing around the gutters.
Add new insulation to the attic: $ 2,575
My attic insulation wasn't exactly robust to begin with. At just four inches thick, my HVAC and heating system worked overtime to heat and cool my home. When marriage did so in the attic, they ruined the insulation even further. My only choice was to replace it.
Improvement of the air seal in the basement and attic: $ 1,690
At one point, I received a voucher for a free energy audit through our local electrical company. In addition to poor insulation – which wasn't a surprise – I did low on the air seal in the basement and my attic. Before taking in new insulation, I took care of these energy leaks as well.
Current Electric Projects: $ 1500
As a house, there are projects you can try to do yourself. Others, like electrical work, are better left to licensed professionals. Over the years, I kept a running list of minor electrical issues. At first there was not enough power in the kitchen for all the appliances. Then the light on the bathroom broke and the floodlight above the garage would not stop flickering. After the squirrel's injury, I hired a professional to spend a few days working on everything.
How did I pay for $ 21,140 of home repairs and improvements
When things went wrong, it was my biggest concern to pay for the repairs. I'm not much of a spender, so lost thousands made me anxious. Some people empty their emergency funds, rely on a home equity line of credit, or apply for a personal loan. None of them appealed to me.
Instead, I used credit cards – Citi Simplicity and US Bank Visa Platinum – two of the longest 0% deals available. These cards have 0% interest rates for 18 and 20 months. It's a risky move. If I still have balance within the deadline, the interest rates for each card spike will. But paying them before deadlines could save me hundreds or thousands. As far as I'm concerned, there's no "right" or "wrong" way to pay for home repairs. If the timeline is realistic, matches your budget and helps you sleep better at night, it's a good decision.
