Here's How I Spent $609 in 2023 to Potentially Save Myself $8,916 in 2024

When I come home from a long trip or snuggle up by the fireplace on a cold winter's night, I feel a swell of gratitude to be in a home I love so much. But it's not all rainbows and cupcakes, as homeownership comes with lots of expenses compared to renting. There's your mortgage of course, but also property taxes and homeowners insurance to add to your budget. And on top of those fixed costs are the varying expenses of maintenance and repairs that you have to account for in your personal finances.

While it's hard to predict what these fluctuating costs will be from year to year, being proactive about them can lead to a lot of savings. Here's a look at how much I spent on preemptive maintenance this past year compared to what it could cost me if those same items had to be repaired next year.

Gutter guards

A few years ago, my husband and I installed gutters on our garage to protect the siding, which was a worthwhile investment in itself. However, we didn't install gutter guards at the time. Our yard is surrounded by several large trees that drop tiny leaves and pine needles onto our property. This has led to backups in the gutters, which can be a headache to clean out and a major issue if they clog.

This summer, we got around to installing the gutter guards, and it was a relief when all the leaves started to fall a short while later. Since we picked up the materials and installed them ourselves, it only cost us about $130 and the better part of a weekend. According to Angi, the average cost of repairing water leak damage can be $3,616. While our garage likely wouldn't be as expensive to repair as the interior of our home, taking that $130 preventive measure was still well worth it to me.

Car service

Since I work from home, I don't put a ton of miles on my car, but I'm still very disciplined about bringing it in for service whenever it's due. I'd much rather catch an issue when it's minor than find out once it becomes a major (and expensive) problem.

Last month, I brought my car to the dealership for a regular inspection. With the $50-off coupon the dealer had sent me ahead of time, the cost of the service and an air filter replacement was $105. That's much easier to stomach than the average price of a car repair, which can be $500 to $600, according to AAA.

Furnace maintenance

I now live in a place with very cold winters. As such, my husband and I make it a priority to get our furnace inspected every fall before the freezing temperatures set in. We actually learned this the hard way when we were living in California.

Since we moved into our home in the summer, we didn't realize the furnace only turned on but didn't heat up until we tried using it during the first cold snap. We had to go several days with no heat before the repair person could come, meaning it was 50 degrees inside the house for the better part of a week. That's not something I want to risk in a place where the temperature often drops below zero.

Last month, we paid for the annual inspection and replacement filters for the furnace. The total was $375 (who knew furnace filters were so pricey?!) but we can now go into winter with the peace of mind that comes with a clean bill of health for our heating system. If instead we had skipped the inspection and an issue cropped up, we might be out $750 to repair or a whopping $4,700 to replace our gas furnace (the averages according to Forbes).

Pay for maintenance rather than repairs

All in all, these three preventive services I elected to pay for cost me $609. That's no small amount, and I'm glad I have a healthy savings account balance I can dip into to cover them. But I'd much rather pay that amount than $4,866 on the low end and $8,916 on the high end to cover the repairs or replacement items that might be required if problems arose.

Make it a point to budget for preventive services like these to save yourself a lot of money. And if you're able to set extra money aside, aim to build up an emergency fund that you can tap when surprise expenses pop up. That way, you can avoid taking on credit card debt that you can't pay off right away, which will only make your costs even more expensive in the long run, thanks to interest charges.