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How To Calculate Annual Maintenance Costs On A Property

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Looking for some realistic figures;

1. How do I work out the annual maintenance/upkeep costs on a home in order to keep in non-deteriorating state.

2. What's a realistic average upgrade percentage for people trading up the housing ladder (i.e. is it fair to say like 20% more than their current place's valuation, or is that too low?)

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How do I work out the annual maintenance/upkeep costs on a home in order to keep in non-deteriorating state?

The rule of thumb for this is allow 1%.

Maintenance

As a homeowner, expect to spend about 1 percent of the purchase price of your home each year on maintenance (use 1.25 percent of the purchase price for older and more run-down properties). Although some years you may spend less, other years you may spend more.

http://www.ezliving.com/finding/buyerstips/

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Nice one thanks, anyone any idea's on the trade up costs... is 20% reasonable... say you were moving from a 2 bed to a 3 bed in a similar area?

I've found you need to find another 50% of the value of your 3 bed semi to move upto a decent 4 bed detached, in my neck of the woods at least......mind boggling when you think about it. :ph34r:

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I've found you need to find another 50% of the value of your 3 bed semi to move upto a decent 4 bed detached, in my neck of the woods at least......mind boggling when you think about it. :ph34r:

Often when considering figures like that I wonder, how the feck does any manage to move houses these days!!!

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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