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Owning a home comes with its fair share of expenses, including mortgage and insurance payments and maintenance costs, but how much can a new homeowner reasonably expect to spend on unexpected repairs?
"My recommendation for homeowners is to take a few simple precautions before moving into their home," says Marianne Cusato, HomeAdvisor.com. "Complete a sewer inspection, check that the insurance policy covers water damage, and set money aside for home emergency projects. Homeowners should plan on spending 1 percent of their home's purchase price on repairs and emergencies each year."
According to HomeAdvisor.com data, more than half of homeowners encountered unexpected home projects within the first year of owning a home. More than half also spent more time on projects than originally anticipated, and less t...
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