Scott Carlson’s Post

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Local Twin Cities Real Estate Agent at BRIX Real Estate

One thing I won't stop telling new homeowners? Budget for repairs and replacements. Taking this advice early in homeownership can be a lifesaver down the road. Here are some notes I’ve shared with my buyers — I’ve updated it with life span estimates, 2024 replacement costs, and monthly savings goals. Roof Life span: 20 years Average replacement cost: $9,353 Savings plan: Save $20 - $40/month HVAC/Furnace Life span: 15-20 years Average replacement cost: $7,500 (replace both at once to save) Savings plan: Save $10 - $30/month Smoke Detectors Life span: 8 years Average replacement cost: $20 - $50 each Savings plans: Replace one detector each year. Wood Deck Life span: 10-15 years Average replacement cost: $4,100 - $11,700 Savings plan: Save $20 - $50/month Washer and Dryer Life span: 10-15 years Average replacement cost: $1,000 to $2,300 per set Savings plan: Save $10 - $50/month per appliance Stashing funds away in a High-Yield Savings Account (HYSA) each month can give your savings an extra interest boost. Plus, platforms like Ally let you set up 'buckets' for each savings goal. Start a general home repair fund even if you can’t save for all of these at once. Plus, I've created a tracker that will help you manage it all. Just shoot me a message, and I’ll send over my Homeowner Maintenance Tracker. How Much Does Roof Replacement Cost in 2024? | Angi Cost to Replace Furnace and Air Conditioning [2024 Data] | Angi Deck Replacement and Repair Costs [2024 Data] | Angi How Much Does a Washer and Dryer Cost? [2024 Prices] #Yourlocaltwincitiesrealtor

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