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by wahern
3039 days ago
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It's a good idea to set aside a fixed sum each month for home repairs and mods, even if you get a home warranty as suggested by smt88. You're probably getting too far ahead of yourself by setting up a maintenance schedule. There's an endless number of potential repairs and jobs, even for newer homes. For anything short of the roof caving in, your limiting factors will be money and time. First see how quickly you can grow your fund the first year, and only then start planning for the stuff you want to fix or enhance. And the roof will cave in shortly after you depleted your fund with some prophylactic job. Plus, it's hard to budget or plan until you get a feel for what good contractors cost in your area and/or what amount of free time you really have. Basically anybody who owns a house has at least one in progress project at any time, and more often than not the project this month/year/decade is the same as it was last month/year/decade. It sounds wrong but the most prudent thing to do in the first year or three is probably to hold off on doing anything until real problems present themselves and demand immediate attention. In the meantime just build up your war chest and, if every is going too well, maybe do some small jobs--some with contractors, some by yourself--so you develop a good mental model for budgeting. |
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