How to Budget for Repairs After a Home Inspection

A home inspection is one of the most important steps in the buying process — it gives you a clear picture of your future home’s condition. But once you have that report in hand, the next challenge is figuring out how much to budget for repairs. Here’s a practical, step-by-step approach.

1. Separate Issues by Urgency

Not every problem needs fixing immediately. Go through the inspection report and sort repairs into three categories:

    Immediate & Safety-Related – Faulty wiring, gas leaks, roof leaks, structural damage.

    Near-Term – HVAC system at the end of its life, water heater showing signs of wear, small plumbing leaks.

    Long-Term Maintenance – Cosmetic updates, minor landscaping issues, older appliances still working fine.

2. Get Multiple Estimates

Inspection reports usually describe issues but don’t include costs. Contact at least two qualified contractors for each repair so you can get an accurate price range. Prices can vary widely depending on location, materials, and labor availability.

3. Add a Contingency Buffer

Unexpected problems often arise once repairs begin. Add 10–20% to your repair budget to cover hidden issues — for example, opening a wall to fix a small leak may reveal mold or structural damage.

4. Prioritize by Impact on Value

Focus first on repairs that:

    Protect the home’s structure and safety.

    Prevent further damage (like stopping water intrusion).

    Improve resale value or curb appeal.

5. Consider DIY vs. Professional Work

Some repairs (like painting or replacing cabinet hardware) can be done yourself to save money. But safety-critical work (like electrical, gas, or structural repairs) should be handled by licensed professionals.

6. Use Negotiation to Offset Costs

If you haven’t closed yet, your inspection report is a powerful bargaining tool. You can:

    Ask the seller to make repairs before closing.

    Request a price reduction equal to estimated repair costs.

    Ask for a credit at closing so you can handle the repairs yourself.

7. Create a Timeline

Spread out non-urgent repairs over months or years to avoid straining your budget. This also gives you time to save and shop for the best contractors and materials.

Bottom Line:

A thorough home inspection by a professional (eg. www.moffatinspections.ca) is just the starting point. By organizing repairs by urgency, getting accurate estimates, and building in a contingency, you can protect your finances, keep your home safe, and plan improvements at a comfortable pace.

And if your home is older there's going to be more frequent repairs needed, and likely more expensive repairs. Just look at the roof and the wall on the house below. It is going to need a long list of repairs, and due to the design of the roof they need to be done by a professional.