Almost half (45%) of homeowners stated that their homes are less safe due to unaddressed repairs, with 39% acknowledging that their roof needs fixing but they have yet to take action.
The study, based on national survey data, uncovers a widespread “procrastination epidemic” affecting the majority of homeowners. Over 90% have pending repairs on their list, with the average deferred project costing around $5,650 to complete.
Financial constraints are the primary reason for delays.
Six out of 10 homeowners attribute delays to financial worries, while 92% blame inflation and 89% point to economic uncertainty.
Only 41% claim they can afford a $500 repair, and just 28% can pay for a $1,000 project upfront. This lack of financial resources has led many to react to emergencies rather than proactively maintain their homes, as explained in the report.
The financial repercussions are significant. Over 40% of homeowners have paid for major repairs that could have been avoided with regular maintenance.
Data from Bold North reveals that a $200 roof repair can escalate to $15,000 to $50,000 if ignored, while a $150 leaky pipe repair can lead to $7,000 in damage from mold and water infiltration.
Emergency repairs cost over $1,200 on average, compared to approximately $100 for preventive maintenance.
Differences based on generation and region also surfaced.
Baby boomers are more consistent in maintenance practices, while Gen X and millennial homeowners struggle to keep up, with around half admitting to falling behind.
First-time homeowners are particularly affected, with nearly 70% feeling overwhelmed by home projects and spending extra time on maintenance without progress. Residents in the eastern U.S. reported higher rates of deferred maintenance compared to those in the West.
Despite the concerning trend, the report highlights some optimism.
Seventy-one percent of homeowners are now prioritizing preventive maintenance, and 92% express a desire to learn more about home repairs. Almost all respondents (96%) believe that basic home maintenance should be taught in schools.