Calculating and Preparing a Home Maintenance Fund
Because home maintenance is an endless responsibility that no homeowner can escape, it only is justifiable that you want to set aside some money for it. Emergencies happen on unexpected times hence a budget is important to tackle necessary solutions.
Here are the steps to follow to spare extra money for home maintenance.
– Normally, at most 3% of how much you pay for the house is the average budget for annual home maintenance costs. Therefore, if a house worth $300,000 is bought, you will have to save at most $9,000 per year for upkeep.
– From the calculated annual threshold, divide it by 12 to come up with a monthly allotted budget for upkeep projects.
– After you finish calculating your monthly and yearly funds, automate it or save it in a bank.
Remember that regular home maintenance equals an increase in the overall value of your residence. Click here to learn more.