[CanadianCapitalist]

We don't have a separate repair fund but we tend to budget ahead for major expenses like replacing the roof, windows, furnace etc. Minor repairs are funded out of regular expenses.

 

[CanadianCapitalist]

Speaking from experience, that's an insanely high amount for repairs, unless you're talking about a home that's 50+ years old and due for major upgrades.

I don't think we've spent anything close to 3 percent to 5 percent on maintenance. Our home was built in 1989 (two storey, detached) and the major expenses have been:

Roofing - $4,000
Windows - $9,000
New furnace - $2,800

There is a lot of miscellaneous expenses such as new faucets, furnace, A/C tune up etc. but I doubt they add up to anything more than 0.5% of the value of the home.

Of course, if it is a really old house, it is a different story.