A specific emergency fund I have a town house I know my biggest major repair will be my AC or roof repairs. Everything else I can diy. So I am building a separate fund as the places ages. It will probably turn into a future down payment I am 5 years in and I don’t plan to go past 12 here. I am stringent on my ac maintenance so I can see it lasting through my ownership.
SolomonGrumpy on
You should set aside 1% of your homes purchase price every year for maintenance. That is not to say you will spend that much.
However, eventuall you have to do a roof or another major reapir which might be 3 or 4 years worth of home maintenance.
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A specific emergency fund I have a town house I know my biggest major repair will be my AC or roof repairs. Everything else I can diy. So I am building a separate fund as the places ages. It will probably turn into a future down payment I am 5 years in and I don’t plan to go past 12 here. I am stringent on my ac maintenance so I can see it lasting through my ownership.
You should set aside 1% of your homes purchase price every year for maintenance. That is not to say you will spend that much.
However, eventuall you have to do a roof or another major reapir which might be 3 or 4 years worth of home maintenance.