Homeowners are putting off repairs and facing safety and financial risks
Nearly half (45%) say their home is less safe due to unaddressed repairs, while 39% say they know their roof needs repairs but haven’t done so yet.
The reportbased on national survey data, reveals a widespread “procrastination epidemic” affecting the vast majority of homeowners. More than 90% have outstanding repairs on their to-do list, with the average deferred project costing approximately $5,650 to complete.
Financial pressure is the main reason for delays.
Six in 10 homeowners cite financial concerns, while 92% blame inflation and 89% point to economic uncertainty.
Only 41% say they can afford a $500 repair, while only 28% can pay for a $1,000 project out of pocket. This lack of cash flow has led many to adopt a reactive approach: addressing emergencies rather than performing preventive maintenance, the report said.
The financial consequences are great. More than 40% of homeowners report paying for major repairs that could have been avoided with routine maintenance.
Bold North’s data shows that a $200 roof repair can cost $15,000 to $50,000 if ignored, while a $150 leaky pipe repair can cause $7,000 in damage from mold and water infiltration.
Emergency repairs average more than $1,200, compared to about $100 for preventative maintenance.
Generational and regional differences also came to light.
Baby boomers are the most consistent when it comes to maintenance, while Gen X and millennial homeowners struggle to keep up – with about half admitting to falling behind.
First-time homebuyers are particularly affected. Nearly 70% report feeling overwhelmed by home projects and spending extra time on maintenance without making progress. Residents in the eastern US reported higher rates of deferred maintenance than those in the West.
Despite the growing problem, the report shows some optimism.
Seventy-one percent of homeowners now prioritize preventative maintenance and 92% said they would like to know how to make more home repairs. And almost all respondents (96%) believe that the basics of home maintenance should be taught in schools.
