It remained a challenge for common man to understand that how much spending should be a part of maintenance or we can say Maintaining a budget is probably the hardest thing for a person to do.
There are no standard ways of defining budget for maintenance of home but we have broadly divide home maintenance in 4 categories:
1. Minor Home Repairs:
Home is complete with combination ranging from small appliances to large utilities which comprises of plumbing works, electrical works, carpentry works and other small nail fixing tasks. It can get extended to repair of home appliances. The average repair cost of such issues is Rs. 1000 which incurs 2-3 times in a year.
2. Home Renovation Works:
As we continue to stay in our dream home it needs some maintenance which we call renovation and can be comprised of painting works, wooden works, tile works, interior works and others. Such works are major jobs and can take from 1 week to 1 year depending upon our change. Such major works cost ranging from thousand rupees to lakh rupees and incur once in 5-10 years.
3. Annual Maintenance Contracts (AMC):
Though there are lot of annual maintenance products available in the market but few services like cleaning and pest control are best for such category. We may slip these recurring services but having an AMC plan keep our home space maintained. Such plans comes from Rs. 2000 to Rs. 10000 on annual basis
4. Home Experts Review:
Change has remained an important part of human life which forces us to change the way our home looks. We ourselves try to change the interior but having an expert opinion is always worth. We can have interior experts opinions, home auditors for evaluating our home conditions. Such services are based on self interest and does not carry any frequency. These experts cost Rs. 1000 to Rs. 10000 depending upon the advice and their role can be extended if required.
A general thumb rule of construction industry is 1% should be annual maintenance cost of maintaining home (i.e. Rs. 40000 for a home worth Rs. 40 Lakh which includes minor repair, major repair and AMCs). In other words, we will need to spend more if we are maintaining more square feet area in much better locality.
The factors which actually makes the biggest impact in the cost of our maintenance and repairs are: AGE, CONDITION, WEATHER, LOCATION & THE TYPE OF PROPERTY WE OWN.
We should make a note of fact that we try to negotiate for Rs 50-Rs 200 with handyman (Carpenter,plumber,electrician) but actual maintenance expenses lies with the major job repair. Such small repair should not bother ourselves mentally much because if we keep our home maintained on regular basis it will make our living happier throughout the years.
WE AT E-GHAR TAKES CARE OF MINOR JOBS, MAJOR JOBS, ANNUAL MAINTENANCE CONTRACTS, AND HOME AUDITING/CONSULTING SERVICES JUST ON A MISS CALL 92892-24365.