It sounds like you want 'reserves,' money set aside on a regular basis for repairs, so it's there when you need it - and that's smart. Are you doing the numbers for an investment property?
What I would do is find out how much a new roof would cost, for example, then figure out how much life is left in your current roof. Same for your water heater, flooring, appliances, and termite tenting if you're concerned about that. You could get a contract with a pest company that covers termites too, then if you do have a problem, it'll be taken care of. Paining isn't expensive unless you hire someone to do it, so get a couple of estimates and keep the contact information on file.
Hope this helps!
Cory La Scala, REALTOR
I would strongly suggest the purchase of a home warranty for your first year (at least). There are lots of adjustments and expenses associated with owning a home. I recommend you keep any unexpected emergencies covered through a warranty for the initial period.
Of course, the condition of the home and your ability to do a lot of the work your self will limit your cash outlay substantially. Best of luck to you.
Just an additional thought to throw in there :)
McAllister Homes Real Estate
I think your numbers are adequate. Obviously it depends on the age of the items you are budgeting to replace. Of the roof is 20 years old it may be at the end of its life and you may need to replace it in 3-5 years, therefore you may have to budget a bit more. A water hater has about a 10 year life.
If you are able to do the regular maintenance and minor repairs you can save a lot of money..
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