Michael Friedman Boca Raton Florida Realtor Concerning Your Home Repair Budget


A rule of thumb is to save 1% to 4% of your home’s value for annual home repair and maintenance items. 

Of course there are factors to consider, such as the age of your home, local prices for labor and materials, local climate, etc. 

A recent article stated the average homeowner spent 0.6% of the home's value for maintenance in 2019. 

The article referenced an Angi’s survey that found the average homeowner spent an average of $3,018 per year on home maintenance. 

This does not refer to updating your home, but rather maintenance of the existing home. 

An idea for homeowners to consider to mitigate any possible home related expenses is to purchase a home warranty that would cover repair and replacements of home systems and appliances. 

Something home sellers should keep in mind is the home buyer will most likely have the home inspected, which should find any neglected repairs. 

I advise my home sellers that they should be prepared to address any such issues when putting their home on the market. 


If you are thinking of selling you home in the Boca Raton area and you are curious as to what you home may be work, find out instantly free home value estimate

Contact me if you have any real estate questions.  To find my information go to my Website https://michaelfriedman.exprealty.com/

Michael Friedman

Broker-Associate, Realtor, CDPE, NCREA

eXp Realty


Agents who would like to grow their business by joining me with one of the largest groups at eXp Realty : click here to learn more about eXp and my group, the Libertas Group at eXp, click HERE 

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