SALT LAKE CITY (KUTV) — There has been a shift in homeowner spending, according to a new report. Homeowners across the country are spending more on unexpected maintenance for their homes.
The report came from a study conducted by Hippo Housepower, which found that 46% of people spent over $5,000 of out-of-pocket expenses on unexpected home repairs in 2024.
“It’s showed us that there have been some shifts in homeowner spending when we look at the data,” said Courtney Klosterman, Home Insights Expert with Hippo Insurance. She said the report reveals a bit more about homeowner behavior too.
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“Because of rising costs for building materials, construction, labor and high interest rates, we’re seeing more homeowners spending more time in their homes for longer and invest in their homes to keep costs down,” Klosterman said.
Klosterman explained proactive maintenance is key to preventing bigger issues down the road.
“Productive maintenance at every season is one of the best remedies for protecting your home,” she said.
She recommends completing maintenance tasks in the spring and summer. And as the weather starts to cool down and summer begins turning into fall, Klosterman said now is the time to:
- Trim shrubs and trees
- Spray for bugs
- Clean your gutters
- Clean out lint filter and dryer vents
The Hippo Housepower report showed where most maintenance was needed.
“Water damage is the most common and costly types of damages that homeowners can see across the US,” she added. “So, it’s important to be paying attention to signs of water leaks or damage.”
With maintenance spending rising, more than half of homeowners are trying to cut back on maintenance costs by doing more things themselves.
With growing development across the state, Klosterman said older homes tend to need more maintenance attention. While newer build homes may see some issues, repairs tend to fall under a warranty.
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