> It is suggested to set aside 1%-3% of your home's overall value for repairs every year.

Rob Carrick, a now (semi-)retired personanl finance writer in Canada, observed that owning a home tends to not be a forced saving plan but rather a forced spending plan:

* https://www.instagram.com/reel/DWG223bPjvf/

* https://thewealthybarber.com/video/owning-a-home-is-so-expen...

Full interview on The Wealthy Barber podcast:

* https://www.youtube.com/watch?v=V8OwBbm5OXc

My parents sure figured out how to not participate in the spending plan, and in the 20 years they’ve owned the home it’s almost tripled in value.

I wouldn’t buy it, but it’s super easy to not take care of a home, live in it, and have it appreciate in value.