Your House Is Crumbling Around You!
By Chuck and Diane Reiling
(Veritus Realty Group and RE/MAX Metro+Eastside)
That catchy title is better than saying you should think about deferred maintenance, but that's really the topic - the topic of maintaining your own home, and what it might cost you if you don't. It's a serious topic, but I'll try not to preach :-) We all know about condominium homeowners dues that have to be paid every month. We often don't think about the fact that their primary purpose is to pay for the ongoing maintenance of the property - depositing money regularly into a building maintenance fund. Typically those dues amount to about 1.5 % / year of the value of the property. On a $400,000 condo they would run about $6,000 a year, or $500/mo. So on your own home you might want to think about that 1.5% in similar terms. Most of us don't have a reserve fund set up that we pay into e...
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