According to a recent article by Dan Steward in RIS Media, homeowners can expect to spend one percent of the value of a home on general maintenance. For example, a $250,000 home would require $2,500 per year to maintain. New homeowners can expect to pat 3 percent of the value of their home in the first year. That cost includes furnishing and fixing up a house as well as general maintenance.
Of course those numbers are estimates. To get a better gauge on how much you can expect to spend on a new house, be sure to get a thorough home inspection. As he says, “A good home inspection determines the current condition of the house, offering a report of all the systems and components in need of maintenance, service, repair or replacement.
Often homebuyers have used inspections as a bargaining tool – but to get the most of your home inspection ask the inspector to let you know not only what needs to replaced today but what items will need attention (and how much) in the near and midterm future.