08/30/2024
The 1 percent rule is a good standard because it's so easy to remember. Just put aside 1 percent of the total purchase price of your home for home maintenance repairs. A $250,000 home would require you to save $2,500 annually, or about $209 per month.
Remember this is a rough estimate that doesn’t consider labor costs or materials, and other factors can contribute to this base price. It is a great starting place to ensure any unexpected expenses can be taken care of without stress.