How much do YOU budget for home repairs and enhancements each year?
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12 answers
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Enhancements - it depends on what we have planned for the year as to what we are going to improve. Repairs - I'm lucky enough that I can repair most things myself or know somebody who can do cheaper than the would normally charge somebody (or labor trade). So we take that as it comes.
Dan's of Central Florida, Inc.
on Feb 04, 2012
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Budget?? I probably should, but I don't. Whatever I discover needs repair, I have to get it taken care of. There are some enhancements I would like to do but sometimes, the cost of repairs eats away at any enhancement money. Seems there is always something to fix around here. Also, I'm still learning the cost of things, being a fairly new homeowner. What would be a good amount (as a rule) to set aside to budget for repairs and enhancements? My guess is it would depend upon the size of the house for starters?
Teresa D
on Feb 04, 2012
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Enhancements I don't budget for I just decide I'm worth it. Repairs, no choices I just do it.
Sherrie S
on Feb 04, 2012
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4% of home value, Dave Ramsey suggested nd every year since its worked out great, there's always a plumbing issue or something that needs repair, if there's any residual leftover for the year, I put it towards a larger project on my "wish/project" list for the following year!
Faidra at CA Global Inc
on Feb 04, 2012
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Faidra, that is very interesting and sounds like a good idea.
Sherrie S
on Feb 04, 2012
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research to get good deals, coupons..... on home repairs, DIY more to save more.....,
Vicki
on Feb 05, 2012
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I Don't. I seem to come up with the money, just like fixing my car. If it has to be done, it has to be done.
Bill B
on Feb 05, 2012
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Save for it, then when there is a sale buy what you need. Have some things just waiting for spring then out of the shop and to where it belongs.
Lee W
on Feb 05, 2012
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I like Faidra's idea!
Rose S
on Feb 05, 2012
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I work in the construction industry, so I keep an idea of what we want to enhance or work on and do it when I can get a deal on material or after tax return.
Tim B
on Feb 05, 2012
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Being new to home ownership I don't have a clue how much I should be budgeting. I've learned something from this post though, thanks to Faidra.....except in this economy it is hard to find the extra money to put away so I am doing more like Bill B says at this point...
Vicki T
on Feb 05, 2012
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i save for projects,when i have the money i get it done
Jerry M
on Feb 05, 2012
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