The 1% to 4% Rule
Financial experts generally recommend saving between 1% and 4% of your home's purchase price each year for ongoing maintenance and repairs. Newer homes hover closer to 1%, while older homes may require 3-4%.
Frequently Asked Questions
What does home maintenance include?
It includes regular tasks like lawn care, HVAC servicing, and gutter cleaning, as well as unexpected repairs like a broken water heater or roof leak.