How much should I budget for home maintenance?
By Bob Millaway, South Jersey Community Expert & REALTOR®
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.
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Read the Full Guide
For a deeper dive, check out the HomeCircle Handbook entry on this topic.
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