Home maintenance budget planner
Get a rough annual maintenance budget for a home, using the common rule-of-thumb guideline of setting aside a percentage of property value each year.
Result
Suggested annual budget
Suggested monthly budget
How to use this calculator
- Enter your property's approximate value.
- Set the maintenance rate — 1% is a commonly cited starting guideline; older or larger properties are often budgeted higher.
- Read the suggested annual and monthly maintenance budget.
Assumptions
- The 1% figure is a widely used rule-of-thumb guideline, not a precise calculation — actual maintenance needs depend on the property's age, condition and materials.
- This is a budgeting guideline only — it is not property valuation advice, investment advice, or a substitute for a professional building survey.
Technical details: what the fields mean
- Approximate property value
propertyValueGbp - A rough estimate of your property's current value — doesn't need to be exact.
- Maintenance rate
percentPerYear - The percentage of property value set aside for maintenance each year — 1% is a commonly cited starting point; older properties are sometimes budgeted at 2–4%.
Methodology
Annual budget = property value × maintenance rate%. Monthly budget = annual budget ÷ 12.
Worked example
£300,000 property at 1%/year
Inputs: propertyValueGbp=300000, percentPerYear=1
Result: £3,000/year, £250/month
Practical guidance
- Older properties (Victorian, pre-war) often benefit from budgeting toward the higher end of the range (2–4%) due to more frequent repair needs.
- Consider building this into a dedicated savings pot so funds are available when an unexpected repair (roof, boiler, damp) comes up.
Common mistakes
- Treating the 1% guideline as an exact, guaranteed figure rather than a rough rule-of-thumb starting point that varies by property.
FAQs
How much should I budget for home maintenance each year?
A commonly cited guideline is around 1% of property value per year, though older properties are often budgeted higher (2–4%).
Is this financial or investment advice?
No — this is a budgeting rule-of-thumb only, not property valuation, investment, mortgage or financial advice.