Ask Bob First-Time Homeowners How much should I budget for home maintenance?
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How much should I budget for home maintenance?

A common rule is to set aside 1 to 2 percent of your home's purchase price per year for maintenance and repairs. For a $400,000 home, that is $4,000 to $8,000 annually. Major repairs like a new roof or HVAC system cost more but happen less frequently. Start saving from day one.

Why It Matters

Home maintenance costs are predictable over time but unpredictable in any given year. Having a dedicated fund prevents financial stress when something breaks.

Related Questions

What should I do the first week after moving in? What should I do the first month after moving in? What should I do the first year after buying a home? What tools should every homeowner own? How do I find reliable local contractors?

Read the Full Guide

For a deeper dive, check out the HomeCircle Handbook entry on this topic.

Setting Up Your Home Maintenance Schedule

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