Q: I would like to buy a home, but don’t know how much to budget for maintenance. How much, on average, can I expect to spend per year?
A: You should plan to spend at least one percent of the purchase price of your home every year to cover such costs as painting, landscaping and other routine maintenance.
An older home may require more maintenance than a newly-constructed home, but this depends primarily on how well it has been cared for through the years.
It is wise of you to budget for the regular upkeep of your home. The condition of your home directly affects its value. Plus, the cost of good home maintenance is usually minor compared to the price of repairing damage that may have occurred due to neglect.
For more information on protecting your home’s resale value or for help in finding a home, call me. As your real estate professional, I am here for you.
