When you live in a rental property, most maintenance is performed by the landlord or the property manager. When you become a homeowner, those maintenance costs fall upon you. When you purchase a home, all maintenance items should be considered when it comes to your overall budget. Will you want to replace all the appliances? Will the property need new windows or a new roof? Does the home need basic upgrades? Most people in the industry suggest you allocate 1% of your home’s worth for maintenance costs every year, but the reality is that 1% is likely the minimum – you should plan on more than 1% maintenance costs each year as a homeowner, and if you plan on any larger renovations, bet on the costs to be even higher. However, there are certain maintenances that you can carry out on your own. Some of these maintenances include cleaning the gutters, changing furnace filters and trimming the lawn. For more complex maintenance you will have to hire an expert service provider.
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