Counting the cost of home ownership

Property Sellers
January 17, 2023

Whether you’re a homeowner or a landlord, one of the major downsides of owning a property is the cost of maintenance. With the best will in the world, things happen! The wind blows, the rain pours down, paint flakes, metal rusts and wood rots. So, maintenance and repairs become a way of life. There’s no way of avoiding it, acceptance is the key to property ownership.

According to a new survey, UK homeowners forked out on average £2864 on home maintenance in 2022. That is 5.8% higher than the previous year and a major headache for people concerned about the cost of living crisis.


Copper wire

The survey investigated the most expensive home maintenance issues and offered some money-saving ideas for putting them right.

Here are their top five maintenance issues together with the cost of putting them right.

  1. Poor/old wiring – cost £3000 - £6500

Although expensive to fix, the cost of this problem could be seriously more expensive because of the serious risk of fire involved. If you’re in any doubt, get an inspection done – and if renewal is necessary, opt for copper wire instead of aluminium.

  1. Peeling paint and rising damp - £2200 - £5000

Peeling paint is expensive to put right – it costs between £2200 and £3200 to fully repaint a damaged house.

Properties must be ventilated through open doors and windows. Improve airflow by leaving gaps between furniture and walls. If dampness sets in, try injecting a damp-proof clean or buy a dehumidifier. If the job is beyond your capabilities, call a professional – it will save money in the long run




  1. Defective brickwork -£1900 - £5000

Often occurs because of age, moisture build-up or poor fitting. This can lead to poor thermos-dynamic insulation and damp.  A crack injection mortar may fill small holes in brickwork but for severely damaged bricks, removal and replacement is the only option.


  1. Boiler failure - £500 - £3000

For problem boilers you need to turn to a Gas Safe registered engineer. Boilers are more reliable and efficient than ever so they don’t need to be replaced very often but take the advice of a professional. Have the boiler serviced regularly so any problems can be spotted early – it could save you money.

  1. Mold through poor ventilation - £800 - £1000

Mold is dangerous and unsightly and is a sure sign of poor ventilation in any property. Make sure the air in your house flows freely and fix any leaks that allow moisture to enter which encourages the mold to grow. Open windows when bathing and wipe down walls to remove moisture. Keep an eye on humidity levels, a dry house is the best form of prevention but if mold begins to run riot, the bill could go sky high.

Here at Farrell Heyworth, we operate in the busy North West towns and villages of Barrow in Furness, Morecambe, Lancaster, Garstang, Cleveleys, Fulwood and Chorley.

We encourage all our customers to register with our My FH portal, which will give you access to the most up-to-date information; remotely and at your convenience.

You can also find out how much you could sell your property for by requesting a free and instant online valuation today.

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