You are here: Home - Household Bills - News -

Top five most common household repairs revealed

0
Written by: Christina Hoghton
02/05/2019
With unexpected household repairs wiping out savings or forcing homeowners to borrow to cover the costs, it's worth checking any potential property carefully

The average household repair comes in at £5,000, so it’s crucial homeowners are prepared for worst case scenarios, said MoneyGuru.

But, in fact, the price comparison site discovered that, for a quarter of Brits, it could take up to eight years to save for unexpected household repairs.

Below are the most common repairs, and their typical cost, according to a survey of homeowners:

1. Windows – The initial repair bill for a house with 10 windows starts at around £5,450 (cited by 20% of respondents)

2. Kitchen – For those who need to repair the kitchen when they first move in, it is likely to cost around £8,000 for replacement (19%)

3. Bathroom – The cost for a totally new bathroom is around £4,500 – including furniture and installation. (17%)

4. Boiler – Those who face replacing the boiler in their new home, are looking at a bill that can vary between £500 and £2,500. (12%)

5. Roof – While the price of a new roof depends on the material, the average cost to fit a new roof is close to £4,900. (9%).

Average cost of repairs

Money Guru found that 24% of UK homeowners spent at least £5,000 on the first repair in their new home.

A further 31% said they spent between £1,000 and £5,000 fixing their home. Only 17% said their first repair expense was under £100.

But only one in four UK homeowners said they are able to regularly save £50 each month to cover any emergencies.

Other popular ways to cover the cost include using up savings – which two thirds are forced to do, adding to their mortgage, taking a loan or credit card, cutting back on essentials or borrowing from family and friends.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

  • RT @YourMoneyUK: Government plans cut to minimum shared ownership stake https://t.co/Sqsh6S0Tm0
  • RT @WeareJust_PR: “Families tend not to talk about money and death. But if we don’t talk about these themes it becomes very hard to make pr…
  • RT @RoyalLondon: Voluntary NI contributions to state pensions have risen - @stevewebb1 hails this as “great news that the message is gettin…

Read previous post:
Easy access rate war heats up as Skipton unveils table-topping cash ISA

Competition is ramping up in the easy access ISA space with Skipton Building Society launching a new market-leading deal paying...

Close