Do you budget for unexpected house repairs? Burst pipes, leaky roofs, and broken windows aren’t rare, but we may not be financially prepared for the costs. If this sounds like your situation, you’re not alone. Nearly 50% of homeowners are unprepared for house repairs and improvements. Learn more with this infographic and the extra tips listed below.
To help prepare you for the unknown, start putting money aside specifically for home repairs, even if you have an emergency fund. Save that for medical or car-related emergencies. Start a separate one for house issues. You don’t want to find yourself in a position of having both types of issues happen at once but only enough money set aside to take care of one. Another way to save money, in the long run, is to keep proper maintenance. You can also look into ways to save on other expenses, like your electric bill.
If you’d like more information on the San Fernando Valley or Los Angeles, or to have help looking for your next home, please feel free to reach out! I’m happy to help, no obligation.