The 1% Rule

I just read a great post by Carson Dunlop & Associates at Muddy York blog discussing, THE 1% RULE.

"When you consider the life cycle of every component of a house, a reasonable annual estimate of the cost of normal maintenance is 1% of the value of the house. One year you may replace the furnace; a few years down the road you may re-surface the roof. Throw in the odd unexpected repair in between and you average 1% per year. It’s incredible but this rule is not far off even for very expensive and very inexpensive houses..."

This is great advice from arguably, the most established and respected Home Inspection company in Canada.

Read the rest of the post: In search of the perfect house