1% is what you should be spending on your home each year!

Just thought I would share with you a brilliant article I have read today – initially tweeted by Sarah Beeney from Tepilo it tells the story of Sarah Edworthy who wrote an article for www.thisismoney.co.uk and talks about how much you should be spending on your home each year for keeping it up together.

According to property experts it should be 1% of the value on your home, which bearing in mind the national average is £162,109 (Land Registry fig) this can be a whopping £1,621 for each house holds to fork out.

Now living in a realistic world where money is not free flowing this can seem like a wish list but having read Sarah’s article you can see why you should spend some money on your home to keep it marketable. Like Sarah, if you’re re mortgaging it can come as a nasty surprise when the market value is less than you were hoping for. Be vigilant with your property if you have a leak – why have you a leak?  rotting windows – don’t leave it until its gets expensive to replace, dodgy electrics – well can you afford to ignore it?

I suppose the answer is no and with those those leaking gutters, old fashioned kitchen or that avocado bathroom comes at great cost. It’s really important the money you spend on your home is put to good use and is carried out by good reputable tradespeople; always ask for recommendation so you avoid any issues with rogue trades.

If you haven’t read Sarah’s article I would recommend you do as I’m sure we can always learn something.

If you have any issues with your home and you just want a chat in the first instance then do give me a call.