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The New York Times published an article that provides estimated costs and amount need to be saved by home owners for these extras that can come in home ownership.
Roof: You need to replace your roofs every 25 years, on average. Right now, average sized roofs may cost around $7,000 – $7,500 and to be able to pay for it home owners must start saving $25 per month from their budget.
Driveway: An asphalt covered driveway is recommended by some experts to replace it every three years. This will cost homeowners about $550, which mean a $15 savings is needed.
Trees: It is advisable to trim trees surrounding your house every five years that will cost you about $300 per tree. This future expense needs a $20 monthly savings from home owner’s budget.
Furnace: A furnace has an average service span of 18 years before it will need to be replaced. Replacement cost for this heating system is a bit expensive that will cost you nearly $3,800, so home owners need to be prepared for this future expense by starting to save $18 per month.
Hot water heater: A water heater with a tank will likely last for about 12 years before it needs to be replaced, which will cost you $1,200 that will need to have an $8 monthly savings. However, if you are using tankless water heaters with longer service span that can reach up to 20 years will cost you about $4,000.
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