What this calculator does
A home's roof, heating and cooling system, water heater, appliances, paint and flooring all wear out and need replacing at some point. This calculator spreads those big costs over their expected life so you can save a little each month instead of being caught by a large bill. List each part with what it would cost to replace, how long it usually lasts and how old it is now, add your routine yearly upkeep, and see the monthly amount to set aside.
How it is worked out
Yearly set-aside for each part = replacement cost ÷ expected life in years. The monthly target = (the sum for all parts + routine yearly upkeep) ÷ 12. The next replacement is the part with the fewest years left (expected life − age). Example with the numbers in the boxes: a $12,000 roof over 20 years, $9,000 of heating and cooling over 15, a $1,800 water heater over 10, $5,000 of appliances over 12, $5,000 of exterior paint over 8 and $8,000 of flooring over 15 add up to $2,955 a year; with $1,200 of routine upkeep that is $4,155 a year, or about $346 a month, which is about 1.04% of a $400,000 home.
Getting good numbers
- The costs and lifespans in the boxes are only examples. They depend on the home, the materials, the climate and local prices.
- Ask local contractors for replacement quotes, and use your home inspection report or records for the age of each part.
- Homeowners insurance generally covers sudden damage, not normal wear and tear, so plan for replacements yourself. Check your policy.
Frequently asked questions
How much should I budget for home maintenance?
It depends on your home's age and condition. Adding up what each big part will cost to replace, divided by how long it lasts, gives a budget based on your own home rather than a general rule.
Where should I keep a home repair fund?
Many people use a separate savings account so the money is easy to reach and not spent on other things.
What if a part is already past its expected life?
The calculator shows it as due now. Consider saving for it sooner, or getting it inspected.
Is my list saved?
No. The names you type stay on this page and are not put in a shared link or a saved result.