Mortgage News - Smart Social Media Hacks For Homeowners To Save On Costly Repairs

Smart Social Media Hacks For Homeowners To Save On Costly Repairs

Mortgage News June 16, 2023

Owning a home comes with the responsibility of handling repairs and maintenance. Unfortunately, homeowners often face the harsh reality that these repairs can be quite expensive. In 2023, the average American homeowner has already spent around $2,985 on home repairs. With nearly 1 in 4 homeowners unable to cover a $1,000 repair emergency, many are turning to social media platforms for cost-effective solutions.

Social Media as a DIY Resource

According to a survey conducted by All Star Home, out of 1,000 homeowners, over 34% have experienced unexpected repairs in 2023. Plumbing, appliance, and HVAC issues are among the most common problems faced by homeowners. However, the cost of professional repairs has led to delays in addressing these issues, with 39% of homeowners postponing repairs due to financial constraints.

To bridge the affordability gap, an increasing number of homeowners—70% to be precise—are seeking assistance from social media platforms like Youtube and TikTok to resolve household problems themselves. This trend of “homeowner hacks” has proven successful for many, enabling them to save an average of $1,190 on repairs. However, it’s important to note that 22% of individuals have exacerbated the problem by attempting DIY repairs, leading them to seek professional help.

DIY vs Professional Help

While homeowners are inclined to tackle repairs themselves, certain tasks require professional expertise. Painting and drywall fixes are commonly handled by homeowners, whereas plumbing issues are attempted by 57% of homeowners before considering a plumber. Approximately 49% of homeowners deal with pests independently. However, for roof-related, HVAC, electrical, structural, and foundation issues, professionals are the preferred choice due to safety concerns and technical expertise.

Choosing the Right Professional

It’s crucial to hire the right professional for the job, as 28% of homeowners who opted for the lowest quote ended up dissatisfied with the quality of work. While professional services may come at a higher cost initially, the expertise and reliability they provide can save homeowners money and stress in the long run.

With homeowners finding it difficult to afford costly repairs, social media platforms have become valuable resources for DIY solutions. However, homeowners should exercise caution and seek professional assistance when necessary. By striking a balance between DIY repairs and professional help, homeowners can navigate the challenges of home maintenance more effectively while saving money and ensuring the longevity of their homes.

Need a loan officer list, real estate agent list, insurance agent list, investment advisor list or contractor list in your area? Contact Jennifer Swanson at 260-223-9203 or Jennifer@SpecialtyContactDatabases.com

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Smart Social Media Hacks For Homeowners To Save On Costly Repairs

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