Video Transcript
You'll spend $4,200 this year if you are a homeowner with a median priced home to maintain, repair and upgrade your property. It's a cost of home ownership. It's THE cost of home ownership. 1.02% of your home's value on average spent every year. The data is from the Census Bureau and the Federal Reserve and it reminds us that there's a cost for buying a home and also a cost for owning a home and keeping it running. 1.02% on average per year. It's a good rule of thumb. We've got a home maintenance checklist. It's on the website. You can check it out to sure you're keeping up with your home's tasks each month and each season. The link is in the description. I'm Dan with Homebuyer.com. Happy homebuying.
Rule of Thumb: How Much Homeowners Spend On Home Upkeep
Homeowners with a median priced home can expect to spend approximately $4,200 annually on maintenance, repairs, and upgrades. This represents an average of 1.02% of the home's value each year, according to data from the Census Bureau and the Federal Reserve.
Video Transcript
You'll spend $4,200 this year if you are a homeowner with a median priced home to maintain, repair and upgrade your property. It's a cost of home ownership. It's THE cost of home ownership. 1.02% of your home's value on average spent every year. The data is from the Census Bureau and the Federal Reserve and it reminds us that there's a cost for buying a home and also a cost for owning a home and keeping it running. 1.02% on average per year. It's a good rule of thumb. We've got a home maintenance checklist. It's on the website. You can check it out to sure you're keeping up with your home's tasks each month and each season. The link is in the description. I'm Dan with Homebuyer.com. Happy homebuying.
