Maistre Gracey
DIS Veteran
- Joined
- Apr 23, 2002
How much do you budget for house maintenance AND eventual redos, such as kitchen, bathrooms, etc...?
I have read between 1 and 2 percent of house value annually, depending on value of house. Higher value closer to 1%, lower closer to 2%.
We built a new house and I’m trying to make sure we are prepared for future expenses. I’m currently stashing 2% aside, but I’m also wondering if that should just go to paying principle. Then, I can always borrow against equity for repairs.
Thoughts...???
I have read between 1 and 2 percent of house value annually, depending on value of house. Higher value closer to 1%, lower closer to 2%.
We built a new house and I’m trying to make sure we are prepared for future expenses. I’m currently stashing 2% aside, but I’m also wondering if that should just go to paying principle. Then, I can always borrow against equity for repairs.
Thoughts...???