Top five most common household repairs
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.