Emergency Fund: Why Every Homeowner Needs One

I’ve written a few posts about our home maintenance costs and surprise repairs that have been needed for our home in the past year.  Last year we had to replace our air conditioning and water heater.  Just a couple of weeks ago we had to replace the sump pump.  The total cost of these repairs was $2,125. Thank Goodness for our Home Emergency Fund As a homeowner it is essential to have an emergency fund.  If it wasn’t for our emergency fund we would have incurred additional debt to pay for those home repairs.  And who wants that?   We’re in the process of … Continue reading

Home Maintenance Costs: Year 1

As I wrote in my previous post our move in date to our newly renovated home was October, 27, 2012. This means that we have now lived a full year in our home.  I had always heard from other homeowners that you should keep a home maintenance budget equal to 1% of the purchase price of the home. Based on this belief we should have $2,090 in our budget to cover home maintenance costs for the year.  This post will outline how much we actually spent this year. Home Maintenance Issues The first item to die was the water heater. … Continue reading