If you spend a weekend creating a financial plan for your home now, it could save you money in the long run. Image: Veer
Do you pay each home-related expense as it comes? If so, you’re missing opportunities for upgrades, or much worse, heading into a financial crisis when a slew of surprise maintenance items hit. So take a holistic look at what it costs to operate your house and set up a home financial plan.
Use our home financial plan budget worksheet, and start by writing a list of expenses, such as:
- Mortgage
- Taxes
- Home insurance, including liability
- Repairs and maintenance, such as new furnace, roof, painting
- Voluntary upgrades, such as a swimming pool, a premium range, a new powder room
- How much you have to spend
- How much you need to allot in the short- and long-term for necessary maintenance and voluntary improvements
Read more: http://www.houselogic.com/home-advice/home-loans-mortgages/home-financial-planning/#ixzz22nV7Co8q
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