Home improvement projects arent nearly as fun as those renovation projects you see on HGTV.
Tasks like cleaning the HVAC ducts or replacing your roof arent as alluring as a fancy kitchen remodel.
Here are five things to consider when creating a home improvement budget.
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Start preparing for these expenses by making a list of all your upcoming projects.
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If you have plenty of disposable income and can easily put aside a few hundred dollars each month.
But if you live paycheck-to-paycheck, give yourself extra time to save.
When creating your home improvement budget, prioritize the most important fixes over nice-to-have upgrades.
Another thing to consider: Will you need a minor repair or total replacement?
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3.
Thats called contributing to asinking fund.
Say youre planning to replace your old refrigerator with a new model that costs about $1,200.
Personal finance experts recommend having three to six months worth of expenses in an emergency fund.
This isnt money youd tap into for routine home maintenance or a planned expense, like a remodel.
The money from your emergency fund should be spent on expenses that are urgent, unexpected and necessary.
Nicole Dow is a senior writer at The Penny Hoarder.
Staff writer/editor Tiffany Connors contributed to this article.
