The cost to maintain a home is something financial experts recommend budgeting for early on, in preparation for choosing which house to buy. On average, homeowners spend 1 percent of their overall home cost in maintenance every year, according to a new study by Porch.com.
The upkeep costs can vary based on style, age, type, and even location of the home. The average cost to maintaining a home each year is about $16,000, according to Porch.com’s analysis.
Where does all that money go? A few chores that routinely pop up on a homeowner’s to-do list include pool keeping, lawn maintenance, and repairs and replacements of appliances.
Read the article on REALTOR Magazine to see the estimated frequency of maintaining certain aspects of the home, and the average costs.