With home ownership comes many responsibilities, one of which is being prepared for home repairs and maintenance. According to a new HomeAdvisor survey, nearly one-third of homeowners have $1,000 or less saved for home repairs or emergencies. This can be a daunting number, especially when faced with large repairs.
The results of the survey show that homeowners are struggling to keep up with repair costs. Of the homeowners surveyed, 59% said they couldn’t afford to handle the repairs needed right now. This puts many homeowners in a difficult position when something goes wrong.
Some of the most common repairs that homeowners are not prepared for include roof repairs, water heater replacements, and HVAC repairs. These repairs can cost thousands of dollars, which is why it’s so important to have an emergency fund set aside.
If you’re a homeowner, consider setting aside some money each month to build up your emergency fund. That way, if something does go wrong, you’ll be prepared to handle it.
You can read this full article at: https://wrenews.com/nearly-one-third-of-homeowners-have-1000-or-less-saved-for-home-emergency/
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
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