Most financial experts recommend that you budget to spend 1% to 3% of your home’s value for annual repairs and maintenance. For example, if your home is worth $250,000, you should set aside $2,500 to $7,500. Of course, the amount actually spent on home maintenance and repairs will vary from year to year.
Unspent money for maintenance and repairs can carry forward to the following year. The reason there is a range is that maintenance costs vary with the age and location of homes. Generally, the older the home, the more maintenance and repairs it will need.
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