It’s nothing new that first-time homebuyers are warned about how essential it is to have an emergency fund for unexpected expenses. When you are renting and you don’t have hot water you call the landlord to fix it… when you own your own home, you are the landlord and it is your responsibility to fix it.
Average emergency home repair spending increased to $1,143 in 2025… and costs are continuing to increase in 2026 for everything from gas and groceries, to car repairs and medical bills… and home repairs.
The most common house issues facing homeowners beyond taxes, insurance and HVAC issues include plumbing services, appliance repair, gutter services and roof repair.
As you prepare to buy a home, factor in not only your monthly mortgage payment which likely includes taxes and insurance, but also set aside an emergency fund for dealing with surprises… hidden expenses which can be more than you expected.
Sharlene Hensrud, RE/MAX Results – shensrud@homesmsp.com
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