As a homeowner, there are some maintenance items you need to be sure to take care of every month. By doing these items regularly, you’ll save money overall as your appliances will last longer and you’ll have a better chance at avoiding major repairs. Click here to download our maintenance checklist.
In addition, annually you should plan to save 1% of the purchase price of your home for maintenance and repair costs. This means that if your home was $500,000 you should save approximately $5,000 per year to pay for new appliances, roof repairs, special assessments if you’re in a condo building, etc. Put it in a rainy day fund that you only touch for home maintenance and improvement projects.