Budget for Home Maintenance

You’ve found the perfect house. You want to get the offer in and set a closing date before the end of the March. But before you decide on an offer – don’t forget to budget in the cost of maintaining the new home.

RIS Media reports…

According to industry standards, homeowners should have 1% of the purchase price of their home in savings for improvements and surprise expenses. While this minimum will help ease through maintenance costs, a 2-3% cushion is far more prudent.

As RIS Media points out, a home inspection will help considerably. It should give you a heads up on any major, and some minor repairs or remodeling. They also point to a great site (Living with my Home) that will help you get a good handle on what needs to be done – by you and when you need to call in the professionals.

Submitted by exclusive home buyer agent, Mary Rugani.

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