Planning for Home Maintenance Costs
You do not think about future maintenance costs when buying a home, but you should. Whether buying an older home or a new home, contruction or inclusions can be faulty and costly to repair.
Usually a home's purchase price can be used to project maintenance costs. The recommendations for annual maintenance costs range from 1.5 to 4 percent of the home's original cost. While this is not always true, especially when the purchase price of a home is three-quarters of a million dollars, it is a good rule of thumb for the average home buyer.
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