As anyone lucky enough to be a homeowner knows, the work on your home is never done. And typically, homeowners have an ever-growing list of projects that need attention, from dealing with dripping faucets or crumbly caulk to full kitchen overhauls. Odds are, you don't have the time, energy, and money to tackle all of your to-dos at once, which means you're constantly shifting priorities as new, more urgent projects sometimes take priority over that dreamy backyard renovation that's on your list.
And in fact, if your home improvement budget isn't stretching as far as it used to, you're not alone. Home improvement site Angi's State of Home Spending report found that most people are struggling to maintain and improve their homes. "More than half of homeowners reported budget challenges with both maintenance and improvement projects—it’s very common," says Angie Hicks, founder of Angi. "When budgets are tight, the most important thing is to separate urgency from wants."
If you're trying to figure out how to prioritize your home maintenance and improvement spending so you get the biggest bang for every buck, here's how to make those calls.
Make a Full List of Projects
It often helps to have the whole list spelled out in black and white, so you have it handy and can keep adding projects as they come to your attention—and hopefully, cross them off as you complete them. A spreadsheet is ideal, as you can shift projects up and down the list as priorities change, and add in any info about pricing and potential pros as you get them.
Put Emergencies Front and Center
Honestly, this probably goes without saying, but if your heating system breaks in the middle of winter or your toilet tank suddenly cracks, that's always going to jump to the head of the line. And homeowners are spending more on emergency repairs than ever before—which isn't a great sign for the state of homeownership, Hicks says. "Emergency repair spending has increased, reaching $1,143 on average per household. That’s often the result of deferred maintenance."
Head Off Major Damage
Next on the list? To-dos that are smaller now, but can become major headaches if they're left to fester, like a leak in the roof or a downspout that's sending water straight to your foundation. "If money is limited, focus first on safety and prevention," says Hicks. "Cosmetic upgrades can almost always wait—a leaky pipe can’t. I always recommend homeowners start by asking, 'Will this impact safety or cause bigger damage if I wait?'”
In this bucket is also essential home maintenance. "People are prioritizing preventative care, like servicing HVAC systems or cleaning gutters, to avoid larger, more expensive issues later," Hicks says. "Fixing smaller issues early is almost always more affordable than waiting for an emergency."
Consider Future Cost Savings
These types of home improvement projects aren't necessarily the sexiest ones out there, but anything that can save you money down the line should probably be next on your home-improvement to-do list. This group tends to include projects that improve energy efficiency, like new windows, weatherstripping, additional insulation, a more efficient heating and cooling system, or even more energy-efficient major appliances.
Determine Which Home Projects Will Bring You the Most Joy
When you're finally into the more fun cosmetic changes and upgrades, review each of these projects to determine which makes the most sense, given how you use your home and your budget. For instance, you may decide you want to prioritize big-budget projects in high-traffic areas, like upgrading your kitchen or a dated bathroom. Or you may decide to spread the wealth and tackle a half-dozen low-lift or low-budget projects, like planting new perennials in your garden or repainting your bedroom.
Be Honest About Your DIY Prowess
Watching a few videos about how to install tile might not be enough to help you successfully create a full shower surround—which could lead to wasted effort and money—and a complete redo by the pros. Start out with smaller DIY projects that are lower lift and easier to master, like painting the walls or fixing a dripping faucet, to start you on your path to DIY mastery.
Look for Ways to Break Down Big Projects
If you have a big, expensive project on your list that requires more financing than you have available, look for ways to split it into smaller, more manageable chunks. For instance, you may opt to install a pool one year, then add a deck or stone patio later as funds become available. And consult a pro to see if there are ways you can more creatively make an upgrade: Rather than a full kitchen renovation, you may be able to refinish or repaint the cabinets, update the backsplash, and choose a new paint color for a more budget-friendly upgrade.
Don't Freak Out If Your To-Do List Never Ends
As any seasoned homeowner can tell you, that's just the way it is—and you should expect to spend about 1% to 4% of your home's value every year toward maintenance and upgrades, according to Fannie Mae. (That amounts to $3,500 to $14,000 per year on a $350,000 home.) So don't fret if your to-do list stays with you as long as you own your home. "The goal isn’t to finish everything right away," says Hicks. "It’s to make steady, informed decisions that protect your home’s value and make it a place you enjoy living."
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