Dot the I’s and Cross the T’s: What are New Homeowners Not Doing?

Being a homeowner pros and cons list:

  • Pros: no more rent, build equity, paint and decorate how you want, and no neighbors above you!
  • Cons: it’s broken, you fix it.

A new survey from HomeServe USA found that 20% of homeowners do not have money put aside for an emergency home repair – and half of the respondents say they’ve had to complete an emergency project at some point in the past 12 months.

Financial experts agree that homeowners should save 1% of the home’s purchase price each year to cover ongoing home maintenance coasts. They also suggest having savings equal to at least 3-6 months of overall living expenses in an emergency fund.

While saving for a down payment is one battle, the next is making sure you’re able to fix any “uh-ohs” your dream home might experience.

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