The costs to maintain, repair, and replace home systems is one of the hardest budget calculations a homeowner must predict. The size, age, and condition of your home at the time of purchase will all impact how much money you need to spend to keep your place in shape. Generally, though, home experts suggest that you set aside between one and three percent of the home’s cost each year for home repair and maintenance costs. (If your home cost $250,000, you’d need to allocate anywhere from $2,500 to $7,500 each year for home repair, replacement costs, and preventive maintenance).
The chart below shows estimates to repair or remodel different portions of your house and is based on data* from Freddie Mac, the lending organization. Bear in mind that these costs are estimates and prices can vary widely from region to region and based on the quality or finishes of materials you choose for repair and replacement projects.
Appliance replacements and additions: