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.