furnace - x5m3

11/05/2024Home Repair Contractors

This is how much homeowners are spending to replace a roof or furnace and fix a toilet

Something you often hear about home ownership is that it’s a forced savings plan. What you never hear is that owning a home is a forced spending plan as well.

While you’re building equity by making regular mortgage payments, you’re also paying for repairs and maintenance. But how much, exactly? Home repair costs are the great unknown of home ownership.

To bring some clarity to the cost of home maintenance, I asked readers of the Carrick on Money e-mail newsletter to fill out a questionnaire about the cost of repairs they’ve done and additional details such as the size and

South Bend Home Repair Program pays for roof, furnace replacements

SOUTH BEND — A city program will pay for major repairs to homes in poorer neighborhoods on the west and southeast sides.

Through South Bend’s Home Repair Program, homeowners in census tracts where at least a quarter of households live below the federal poverty line are eligible for up to $20,000 from the city to repair or replace their roof and furnace, according to Executive Director of Community Investment Caleb Bauer.

“A roof replacement helps preserve a home as a livable home into the future,” Bauer said. “It’s the No. 1 repair that can stop a home from degrading