MarketWatch, March 31, 2022, Budgeting tips for new homeowners
The Housing Counseling Network at the National Community Reinvestment Coalition (NCRC) is a HUD-approved collective of agencies made up of mortgage advisers offering guidance on budgeting, credit, financial management and savings techniques. Its director, Ibijoke Akinbowale, recommends planning to spend 1%–2% of your home’s purchase price in ongoing costs for maintenance each year. However, if your home is older or in poor repair, the percentage could be higher.
