I am not a homeowner, so I have no practical experience with the expenses. But in my own calcs, I tend to assume annual expenses of 2% of the building’s replacement cost for those once-every-few-years items, like kitchen and bathroom updates, and new roofs, wiring, plumbing etc. I figure that over 50 years, you’ll have to pretty much replace everything, unless you plan to become one of those people who live in a home that’s never updated. That excludes the annual or monthly maintenance expenses.
