Money
The invisible money leak in your home
Your biggest home risk might not be rising interest rates. Instead financial danger often comes from tiny issues that can wipe out your savings in a single night. Here’s how to spot trouble before it blows.
By Bron Maxabella
So let’s talk about the hidden enemy within your home. And no, it’s not the offspring who keeps “accidentally” breaking door handles and blowing up the dishwasher. It’s the humble flexi-hose, that little silver pipe under your sink, toilet or laundry tub that looks harmless but is statistically one of the biggest destroyers of Australian homes.
The Allianz Home Care Report confirms what any tradie could tell you: water damage is the number-one lurking disaster in our homes. Burst flexi-hoses are behind thousands of incidents every year, and Allianz alone supported more than 78,000 home-related claims in 2024 (excluding natural catastrophes), with water damage consistently topping the list. Allianz recorded 19,016 burst-pipe claims in 2024 and many of those start with one of these tiny braided hoses giving up at 2am while you're blissfully asleep or living your best life on holiday.
A flexi-hose costs about $20, plus plumbing costs, but if it fails while you're away, Allianz notes that the damage bill can be anywhere from $5,000 to $30,000 for soaked flooring, swollen cabinetry and water-warped walls. All from a part most of us ignore until it’s moodily spraying a fine mist across the kitchen like a feral sprinkler.
And before you judge yourself too harshly, the report found that 40% of homeowners say their home maintenance is not done regularly or not done at all, and 16% only look at things when they remember or 12% when someone else reminds them. So yes, our national pastime isn't actually cricket, it’s waiting for something in our home to break before we do something about it.
Why we ignore the small stuff
The Allianz research reveals that we Aussies care about our homes – 89% of us agree the time and cost of maintenance is worth it. But then real life gets in the way, like cost-of-living pressures, endless to-do lists and a sneaky belief that “it’ll be right” means we rarely find time to check the hot-water system for corrosion.
Half of surveyed homeowners even admitted they assume small problems will “sort themselves out” or can be dealt with “when they escalate”. Which is adorably laid-back, in an “oh no, please don’t” sort of way.
The real problem
Water damage is the big-ticket villain, but blocked gutters, deteriorating roof seals, faulty smoke alarms and wiring are not far behind.
The report highlights that roof leaks can turn a $500 reseal into $10,000+ repairs if left to fester and things like blocked gutters can cause storm flooding inside the home, often costing more than $15,000 on average to fix.
It’s not just the headache of additional damage that unfixed ‘wear and tear’ causes either. A general lack of maintenance may affect your insurance coverage, too.
“While insurance may cover damage from an insured event such as a hailstorm, it may not cover damage from issues that have developed over time as a result of wear and tear or lack of maintenance,” warns Luke Whenman, Allianz Australia’s Chief Claims Officer. “That’s why we’re encouraging all homeowners to take some simple steps to keep up with their home maintenance to not only make their home more resilient but to also reduce any potential insurance coverage or claim issues.”
A quick home check that could save you thousands
If you do nothing else this week, do this simple maintenance check around your place. If anything isn’t up to scratch, either DIY the repairs or call in the experts to get it fixed quickly.
1. Inspect all flexi-hoses
Look under sinks, behind toilets and under the laundry trough. Are your flexi-hoses rusted, bulging or fraying? If yes, replace them. Allianz’s trial Home Health Check program inspected nearly 2,000 flexi-hoses and replaced 369, which means almost one in five showed signs of corrosion.
2. Clean out your gutters
Yes, it’s tedious; yes, it matters. Overflowing gutters can cause internal flooding during storms. If your gutters are filled with dry leaves and debris, they’re also a major bushfire risk
3. Check for slow drains, damp spots and mould
These are the small signs that something bigger might be brewing behind the scenes.
“When assessing homes, we often come across issues such as water damage, leaking pipes or mould, which are problems that could have been prevented with simple, routine upkeep,” says founder of Ace Property Agency Rebecca Cardamone. “Not keeping up with maintenance not only increases risks of incidents but also undermines a property’s long-term value.”
4. Test smoke alarms
A simple press of a button regularly could protect your home against the most catastrophic losses. The NSW fire service recommends checking your smoke alarms annually on 1 June. If you’re unsure whether your alarms are up to scratch, you can request a safety visit from your local fire service.
5. Do a regular walk-around
A regular walk-around your home and property to check for things that need attention is recommended.
“Caring for your home doesn’t need to be complicated or costly. Small, regular checks can help to prevent the most common and disruptive claims we see, especially water issues,” notes Shez Ford Consumer Chief General Manager at Allianz Australia.
Look for things like:
- Look for damp spots under sinks and around toilets
- Test taps, showers and drains for slow flow or gurgling
- Inspect ceilings and walls for water stains
- Look for mould on walls, ceilings and in corners
- Check roofline for sagging or shifted tiles
- Make sure gutters and downpipes are clear
- Look for cracks around windows and doors
- Check exterior paint or render for peeling or damage
- Inspect paths and driveways for cracks or trip hazards
- Look for termite mud trails around the house perimeter
- Clear debris from around foundations
- Make sure vents and weep holes aren’t blocked
- Test smoke alarms and replace batteries if needed
- Check power points and light switches for flickering
- Ensure tall furniture is secured with anti-tip brackets
- Check screens, locks and latches are working
- Look for overgrown plants touching the house
- Make sure outdoor drains are free-flowing
Everyone avoids this stuff because it feels overwhelming, boring or expensive. But the Allianz data is a gentle reminder that small, regular actions can help protect the life, memories and future financial security your home holds. A $20 flexi-hose might not be glamorous, but a new one is probably the cheapest peace of mind you’ll buy this year.
Feature image: iStock/svetikd
This article contains general information only. It is not financial advice and is not intended to influence readers’ decisions about any financial products or investments. Readers’ personal circumstances have not been taken into account and they should always seek their own professional financial and taxation advice that takes into account their financial circumstances, objectives and needs.
Tell us in the comments below: What home maintenance job do you hate the most?
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