The hidden home repairs that could cost you thousands

Owning a home can be a dream come true, but it also comes with responsibilities — and hidden costs that could catch you off guard. Unexpected repairs, like fixing leaky pipes, roof maintenance, or electrical faults, can quickly add up. In fact, some of these surprise costs could set you back by up to £15,000, according to recent figures.

With energy bills set to rise in April, household budgets are already under pressure, making it even more important to stay on top of home maintenance. So, what can you do to protect your wallet and prevent these expensive surprises?

Six hidden costs to watch out for

1. Roof maintenance (£4,000 - £5,000) Roof damage often goes unnoticed until it’s too late. Leaks can cause serious problems like structural damage. Checking your roof regularly can save you from costly repairs in the future.
2. Plumbing and water damage (£2,000 - £3,000) Hidden leaks can lead to water damage that might not show up until it’s already causing harm. This can be particularly expensive if it damages your walls, flooring, or possessions.
3. Electrical faults (£1,500 - £3,000) Electrical issues, such as rewiring or fixing circuit faults, can be pricey. If left unchecked, these problems can even become fire hazards, making them crucial to address.
4. Damp and mould (£1,000 - £5,000) Damp problems often lead to mould and structural damage, both of which can be costly to fix. Damp can also affect your health, making it even more important to act quickly.
5. Boiler and heating repairs (£2,000 - £3,500) Boilers are a crucial part of your home, but they can be expensive to replace. If yours is getting old or breaks down, repairs or even a full replacement could be a significant cost.
6. Structural and foundation issues (£5,000 - £15,000) Problems with the foundation of your home are among the most expensive to fix. The cost can range from a few thousand pounds to tens of thousands, depending on the severity of the issue.

Home maintenance tips to save you money

While you can’t avoid every repair, there are steps you can take to reduce the chances of being hit with a big bill:

1. Regular inspections: Regularly checking key areas like your roof, plumbing, and electrical systems can help you catch small issues before they become big problems.
2. Home insurance: Make sure your home insurance covers both repairs and potential damage. Be sure to read the small print to understand exactly what is covered.
3. Save for emergencies: Setting aside 1-3% of your home’s value each year for maintenance can help you prepare for unexpected repair costs. This could help soften the blow when something does go wrong.
4. Energy efficiency improvements: Simple fixes, like upgrading insulation or installing energy-efficient windows, can not only lower your energy bills but also prevent costly damage in the future.
5. Work with professionals: Always hire reputable contractors. Cutting corners might seem like a good idea at first, but it can end up costing more in the long run.

What does home insurance cover? 

Home insurance can provide peace of mind if something goes wrong. It usually comes in two parts — buildings insurance and contents insurance — and you can buy them together or separately.

• Buildings insurance covers the structure of your home, like the roof, walls, floors, and any permanent fixtures. It often includes damage caused by events like fire, storms, floods, or vandalism. Some policies may also help with the cost of repairs for things like roof damage, plumbing issues, or electrical faults — but it’s worth checking the details.
• Contents insurance covers the things inside your home, like furniture, appliances, and personal belongings if they’re damaged or stolen.

It’s important to know that home insurance doesn’t usually cover general wear and tear or problems caused by poor maintenance. So, if a repair could have been prevented, you might have to pay for it yourself. Always check your policy carefully, so you know exactly what’s covered — and what isn’t — before the unexpected happens.

What if repairs are already needed?

If repairs are needed urgently and you don’t have savings to cover the costs, don’t panic. A credit card, secured loan or personal loan could be an option to help you spread the cost of the repairs.

Keeping your home in good shape takes time and effort, but staying ahead of maintenance could save you thousands in the future.