COLUMBUS, OH — Many U.S. homeowners are not taking preventative steps with necessary maintenance to their home before a problem becomes a major issue, a major new survey has found.
According to the findings of the survey, conducted by the Columbus, OH-based insurance/financial services organization Nationwide, within the past year, 44% of the homeowners who were polled said they have delayed performing routine maintenance tasks, and 31% are delaying necessary renovations and repairs—with 78% of these individuals saying they have deferred necessary maintenance because of inflation and rising prices. In addition, a quarter of surveyed homeowners said they are unaware that delaying necessary home maintenance can have implications for their homeowner’s policy.
Among these individuals, the most common types of home maintenance or renovations that are being delayed are roof repair/replacement and kitchen/bathroom remodeling. Baby boomers (38%) are less likely than Gen X (50%) and Millennial (52%) homeowners to have delayed home maintenance needs, the survey found.
According to the Nationwide survey the major reasons homeowners are not properly maintaining their homes include:
- 78% cite inflation and rising prices.
- 46% noted other financial priorities.
- 32% lack the time or energy.
- 23% had difficulty finding a reliable contractor.
- 20% lack knowledge or experience with home repairs or renovations.