Things can happen while you own your home and occasionally, things fail. Just as you would not run a factory without budgeting for maintenance, a certain amount of money should be set aside on an annual basis to look after routine maintenance items. This would include the repair and/or replacement of some of the most expensive systems in your home – the roof, furnace and air conditioner. Although not applicable in all cases, budgeting 1% of the value of the home annually for these costs would be a good starting point.

Browse this area of the website for some helpful ideas, tips and links to help you along the exciting journey of home ownership!