Millennials say the cost of maintenance is keeping them from buying a home

When it comes to home ownership , there is a lot more to consider than mortgages and locations. It is equally important to consider the inevitable maintenance costs that will be incurred if it is a leaking faucet. Blown fuse or something much bigger.

In a new study in December 2021, Puronics surveyed 1,100 millennials in the United States about their views on home care.

In terms of routine maintenance, the study found that 60% of people between the ages of 25 and 40 don't know how to fix a leaking faucet, while 52% said they don't know how to fix a garbage disposal. Almost half of respondents (49%) don't know how to clean their dishwasher filter (if you have a dishwasher), 29% don't know how to clean a shower head, and 19% were unable to reset a blown fuse.

Given the amount of information available, it's unsurprising that 86% of millennials use the internet (especially YouTube content) when they have a budget problem to solve - another study found that the most searched DIY term on Google since August 2020 to July 2021 was "How to Plug a Drain".

The study also showed that 46% of respondents seek parental guidance on household chores. 59% of Millennials seek help from a friend or loved one, and 48% outsource professional help.

While it's nice to know how to do these things, it's also worth noting that not everyone will have the budget . 76% of respondents said they had no financial budget on house maintenance, and 57% of millennials said they spend less than $ 500 a year on house maintenance. Because of the cost of fixing issues that might arise, 45% of millennials who rent say the thought of spending on home maintenance prevents them from buying a home.

In order to stay on top of your housework, you should create a household maintenance journal that you can keep on top of things.

"A journal is a great tool for homeowners, especially new owners, to keep track of their repairs, problems, funds, and progress," saidCamille Canales , a Chicago real estate agent, Apartment Therapy in 2021. "Let's think about something like the captain's diary on a ship: all important events are recorded and are available for inspection.

Go the old-fashioned way and opt for a well-organized three-ring binder or keep things digital with an online home maintenance checklist .

Adblock test (why?)