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For many homeowners, their home is not only their castle, it’s also their most valuable asset. So it makes sense for them to try to keep it in good condition. Data from the 1991 American Housing Survey (AHS) show that that’s exactly what most of them do.
This Brief examines the likelihood of homeowners spending money on home maintenance during a year’s time, how much they spent, and how the probability of spending (and the amount spent) varied by region, income, and other factors.
Home maintenance consists of regular activities necessary for the preventive care of the structure itselt, the property it sits on, and any fixed equipment. Included, then, are jobs like painting or papering a room, floor sanding, repairing fences, fixing water pipes, replacing furnace filters or broken windows, and repairs to air conditioning units, walls, or faucets. Landscaping and gardening costs, on the other hand, are excluded.
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