As a renter, you weren’t responsible for performing routine home maintenance, let alone dealing with repairs and emergencies. As a homeowner, however, it’s essential that you are financially prepared to handle each of these unavoidable events. While facing repairs and emergency expenses will still be stressful, being prepared for them will ensure that your financial position isn’t threatened by the unexpected.

As you read through our recommendations, keep in mind that they are developed with the average expenses faced by a homeowner in the US. If you have purchased a new home, your repair fund will not need to be as large. If you’ve purchased a home that is over 30 years old, plan for roof, plumbing, window, HVAC, and electrical issues that are