There are a lot of financial calculations involved in buying a home. Buyers need to figure out their down payment, what their prospective mortgage rate might be, their price range, what the monthly mortgage payment will look like, etc. It’s a long list – and too often, it’s a list that doesn’t take into account future renovations. If you own a home, you’ll have to do a major renovation sooner or later. In fact, according to one recent survey of current homeowners, 94 percent said they’d completed a major project in the past five years. That includes bathroom remodels, interior painting, HVAC upgrades, roofs, plumbing upgrades, kitchens, landscaping, flooring and more. As a homeowner, you can put off some of those jobs. Others, though, will be unavoidable. That’s why it’s important to plan for home improvement in advance. Having some money tucked away for necessary projects and maintenance will help, especially if you, like 78 percent of survey respondents, end up going over budget. (source)