What many people don’t think about when espousing the value of owning vs. renting living space is the cost of regular maintenance. The article presents a nice chart stating you should be saving $21/mo to replace a roof in 10 years, $83/mo to replace windows in 15 yearsm $14/mo to replace an over in 6 years, etc. The information comes from Askthebuilder.com. Have you been budgeting for these ongoing maintenance expenses?
Ah, I hear your argument. You don’t plan to live in your house for more than 5 years before moving out and finding another? Well, you should be budgeting for ongoing maintenance anyway, because if the next house you move into has previous owners who think like you, they’ll be leaving you with materials in the house that are due to be replaced sooner than you expect… and good luck.
Published or updated December 23, 2003. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.