How to Budget for Home Maintenance - 04/14/11 08:32 PM
Every Realtor knows it's important to remind home buyers that all homes - old and new - will need ongoing maintenance and repairs and that it's important to budget for them.
This means that buyers will need to understand the 1% rule. The theory is that normal maintenance on a home is about 1% of the value of the home per year. For example, a $450,000 home would require $4,500 per year to maintain, and maybe a bit more in Fairfield County. Looked at as accumulated savings, this would eventually be enough to replace the roof ...and then, a few years … (2 comments)

 

David Leopold

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