Most homeowners expect to spend money on their house, and not just for mortgage payments and insurance. They might want to add a backyard deck, remodel the kitchen, build an addition or tackle other projects to enhance the home and put their personal stamp on the design.
But what if all of those dollars had to go to repairs rather than improvements? It’s one thing to drop $20,000 and get a great new kitchen; it’s another to spend that same money replacing the heating and air-conditioning system, eliminating dangerous old wiring or rescuing a crumbling foundation. Those kinds of big expenses are heartbreakers, devouring the fun money you’d hoped would pay for a new master suite or some other real improvements.
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