Prepare for Breakage
Being your own landlord has a lot of perks (you can kiss that whole “no pets” policy goodbye!). But it’s less exciting when your dishwasher craps out and you have to foot the bill. You can’t stop things from breaking, but you can set some cash aside to pay for unexpected replacements. As a general rule of thumb, you want to save 1-3 percent of your home’s initial price each year so that you can afford unexpected problems.
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