Quote:
Originally Posted by GGG
I think 5% is very high. .5% for day to day plus another .5% for major seems sufficient if you aren’t doing major renovations. That’s still 5k per year on the average Calgary house though.
I don’t think you need to be concerned about concurrent failures because statistically the costs average out overtime and you are sitting on a large sum generating a passive income. So if the furnace goes and the roof goes that year is a little larger but the next 5 are less. The mistake the average person makes is not Saving the money in the good years.
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$5000 will not get you very much for any type of house maintenance, especially for a senior who will not be doing the work by themselves.