The hidden costs of homeownership aren't all that hidden. They’re all around you. They’re on the roof, in the walls, on the floor, and everything in between. When most people think of the cost of owning a home, they think of the basic costs—mortgage, taxes, insurance, utilities, etc. Rarely do homeowners account for the more random budget busters that inevitably will pop up from time to time.

Mindy Jensen, host of the BiggerPockets Money Podcast, knows this all too well. As a live in flip addict, she’s constantly reinvesting her money back into her home to get the most bang for her buck. That means replacing a roof, water heater, furnace, HVAC unit, and everything else fun that comes with owning a home. So, if you’re not setting aside enough reserves to cover the big items when they break, you may be in for a rude awakening.

How are you budgeting for big CapEx expenses? If you’re not, what’s your safety reserve for paying for hefty repairs? Let us know in the comments below!

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Check Out Last Week’s Episode on the True Cost of Solar Panels:
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The Importance of Reserve Accounts (Or What a Surprise Roof Replacement Taught Me):
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How Much Should You Budget for Reserves and CapEx?
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The Investor’s Guide to Quickly and Accurately Evaluating Home Repair Costs:
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How to Accurately Estimate Expenses on a Rental Property in 3 Easy Steps:
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00:00 The True Costs of Owning a Home
01:37 Repair Budgets & Replacing BIG Items
03:13 Calculating Your Future Costs

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