Prepare for the BIG Home Expenses: What Every Homeowner Needs to Know
- Carissa Carleton
- Jan 21
- 3 min read
Updated: Mar 20
Owning a home is one of life’s greatest achievements—but it also comes with some hefty price tags. While most of us plan for the mortgage, insurance, and utilities, the real surprises often come in the form of big-ticket home expenses. The good news? With a little preparation and proactive care, you can manage these costs without breaking the bank.
Here’s how to prepare for the major home expenses that every homeowner will eventually face.
1. Roof Replacement
Your roof is your home’s first line of defense, but it won’t last forever. Most roofs need replacing every 15–30 years, depending on the materials and climate.
Cost:
Replacing a roof can range from $5,000 to $15,000 or more, depending on the size of your home and the materials used.
How to Prepare:
• Inspect your roof annually for missing shingles, leaks, or damage.
• Save a portion of your annual budget (about 1% of your home’s value) for major repairs like this.
• Consider scheduling a professional roof inspection every few years.
2. HVAC System Replacement
Your furnace and air conditioner keep your home comfortable year-round, but they won’t last forever.
Lifespan: Furnaces typically last 15–20 years, and air conditioners around 10–15 years.
Cost: Replacing an HVAC system can cost between $4,000 and $10,000.
How to Prepare:
• Change filters regularly (every 1–3 months).
• Schedule annual tune-ups to catch small issues before they become big problems.
• Consider setting up a savings fund for when replacement time comes.
3. Water Heater Replacement
Hot water is essential, and your water heater works hard every day.
Lifespan: Traditional water heaters last 8–12 years, while tankless models can last 20+ years.
Cost: Replacing a water heater typically costs $1,000 to $3,500, depending on the type.
How to Prepare:
• Flush the tank annually to remove sediment buildup.
• Insulate the water heater to improve efficiency and extend its life.
4. Major Plumbing Repairs
Leaky pipes, aging plumbing, or outdated fixtures can result in significant costs.
Cost:
• Replacing a single pipe or fixing a leak: $200–$1,000.
• Replacing old plumbing in an entire home: $5,000–$15,000 or more.
How to Prepare:
• Inspect your plumbing regularly for leaks or corrosion.
• Consider upgrading to modern materials like PEX or copper if you have outdated systems.
5. Appliance Replacements
From refrigerators to washing machines, major appliances need replacing every 10–15 years.
Cost:
• Refrigerators: $800–$2,500.
• Washers/Dryers: $500–$1,500 each.
• Dishwashers: $500–$1,200.
How to Prepare:
• Regularly clean and maintain appliances, like vacuuming fridge condenser coils or cleaning dryer vents.
• Budget for appliance replacements in stages to avoid replacing multiple units simultaneously.
6. Foundation Repairs
Foundation problems are some of the most expensive home repairs.
Cost:
Minor crack repair: $500–$1,500.
Major structural repairs: $5,000–$15,000 or more.
How to Prepare:
• Monitor for signs of foundation issues, like cracks in walls or uneven floors.
• Ensure proper grading and drainage around your home to prevent water damage.
7. Window Replacement
Windows are crucial for insulation and energy efficiency.
Lifespan: Windows typically last 15–20 years.
Cost: Replacing windows costs $200–$1,000 per window, depending on the type and size.
How to Prepare:
• Inspect seals and frames for damage annually.
• Consider replacing older, single-pane windows with energy-efficient models.
How to Prepare Financially for Big Home Expenses
1. Create a Home Maintenance Fund:
Set aside 1–3% of your home’s value annually to cover repairs and replacements. For a $500,000 home, that’s $5,000–$15,000 per year.
2. Prioritize Preventative Maintenance:
Small investments in maintenance now can save you thousands later. For example, changing your HVAC filters regularly can prevent costly system failures.
3. Schedule Regular Inspections:
Professional inspections of key systems (roof, HVAC, plumbing, etc.) can catch problems early, giving you time to plan for repairs.
4. Be Proactive, Not Reactive:
Don’t wait for something to break before addressing it. Proactive care extends the lifespan of your home’s systems and saves money.
Need Help Staying Ahead of Big Home Expenses?
At Squad Life, we specialize in proactive home maintenance to help homeowners avoid costly surprises. From regular check-ups to seasonal tune-ups, we’ve got your back. Let us handle the upkeep so you can focus on enjoying your home—without the stress of unexpected repairs.
💡 Ready to protect your biggest investment? Contact us today to learn more about our maintenance plans and services!