Start with the monthly number, end with a price range
Budgeting for upkeep
The short version
Owning a home brings repair and maintenance costs that renters do not pay directly. Plan a monthly amount for upkeep based on the home's age, systems and condition, and keep a separate emergency fund for big surprises like a roof or furnace. Count that amount before deciding what payment you can handle.
Last reviewed against the primary sources listed below.
Plan by the home
- Age of roof, furnace and water heater.
- Inspection report findings.
- Yard, pool or other features.
You asked, we answered
Is maintenance part of the mortgage payment?
No. It is a separate cost you budget for yourself.
Where can I learn about homeowner costs?
HUD-approved housing counselors can help you plan.