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UltimatePlayer3301 OP t1_j6oe0xx wrote

Reply to comment by kveggie1 in Is it feasible to buy a house with 3 friends for my 4 years in college (or maybe longer)? by UltimatePlayer3301

I calculated 1% of house cost per year for repairs (I found that number somewhere online) would this be a safe number to use to put aside for repairs?

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EmberOnTheSea t1_j6of03g wrote

That is likely too low in the first couple years. When people are planning on selling their house, they often put off maintenance. Price a roof or furnace in your area and use that amount as your "worst case scenario" repair.

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UltimatePlayer3301 OP t1_j6ofihd wrote

I found the average price of a roof replacement in the area to be about $5k to $15k, so if we all had this amount saved, would you consider that to be safe?

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