Home Maintenance Amount?

[Jgoodall08]

Hi... im trying to figure out how much we spend for home maintenace and
i have no idea...i mean ya gotta add furnance contracts, well maintenance, septic, is lawn care included? i mean we havent done 80% of the things we should be doing to our home and yard cuz we are broke DUH so what do i put down

[HHM]

Tough to say, but keep in mind, the IRS housing standard number INCLUDES maintenance.

Also, to some degree, it depends on the age and style of the house.

Professional lawn care may be extravagant , but basic maintenance is fine. As with any expense in BK, at the end of the day, you need to be able to demonstrate that the expenses is necessary and the amount reasonable.

[ohantonio]

Basic maintenance is typically 1% per year of your homes total value.

[discouraged]

My attorney put $50 per month, which averages out to the 1% of my upside down house. Sadly, it was $124,000 when I bought it and now is valued at no more than $65,000.

[tcreegan]

Hi Jgoodall08,

Home maintenance on Schedule J seems to get picked on, lots of lawyer websites saying $100 max.

On the means-test you won't enter anything, home maintenance is included in the IRS housing standard, line 20A.

Not as bad as it used to be, not too long ago saw $50 a month was getting picked on...

Tom in Colo

[Pandora]

Our house is 150 years old and we were only allowed $50 for home maintenance - for us (hell, for most people), that isnt much - but something is better than nothing. It gets set aside for the renovations we must do; I pull from other areas if I'm able to from not spending all the $ allocated each month in those areas.

Try for $100 and see where it goes if you can.