Home maintenance costs
I'm about to decide on a duplex for me and my sister and I'm a little worried that we'll have hard time getting by if there will be maintenance surprises so I'm trying to figure out the maintenance costs of owning a duplex here in Wisconsin.
It'll be great if anyone who ever owned a duplex for a long period of time can sum up every thing they had spend as a landlord/owner over the years (from replacing a roof every x number of years to changing the carpet, appliances, property tax, different types of insurances, and basically all the things I don't think of as I never owned anything ever). And keep in mind that we're not too handy but can hire experienced maintenance people we trust for 40-50$ per hour.
Pool maintenance - call around to different companies for their rates. Same with pest companies - rates vary.In general you can plan on 1% of the cost of your home annually in maintenance, which would include lawn care, repairs and renovations.So if you paid $200K plan on $2000 per year. I'm not counting utilities in that.
It all depends on the current state of condition and size of the home.
Property tax information can be obtained from the city.
For homeonwners insurance you can call around for quotes.
Roof should last for 10-15 years. Carpet should last for 5-8 years depending on foot traffic and/or pets. Appliances can last for many years but, often go out when you can least afford it. Most home buyer warranties are only good for 1yr. and come with varying deductibles and service charges.
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