[GGG]

Originally Posted by Sliver

I don't think 5% on average is too high if you want to maintain a nice home. You'll need a roof every 25 years ($15k?), you'll need new windows every 40 years ($30-50k?), you'll need interior paint every 15-20 years ($12k?), fence every 25 years ($4k?), deck/trees/exterior landscaping care ($300-$800/year minimum), exterior paint for the structure(s) every 10-15 years ($5k), appliances: hot water tank every 15 years ($1k), dishwasher every 12 years ($500), stove/fridge/washer/dryer replace every 20 years ($5k bare minimum for econo machines).

The above just barely keeps your house at the standard it is at today. Everyone I know likes to improve things over time, too, with the odd reno or update. Change some fixtures, buy a storm door, plant some annuals, etc. Have you been to a house that hasn't been renovated in 50 years? It looks like crap every single time. Nothing lasts forever. If you've only put $55k into your house you have either let things go, haven't tracked your spend well, or have been incredibly lucky with your timing.

Did you add up your list? 5% on a 500k home is 25k per year. You’d pay for everything in your list by year 4. Over 50 years you could spend 250k on your home at 1% per year. Your list matches up pretty close to about 5k per year on a 20 year cycle to maintain your home in the condition it is today.