Guides / Saving for the house
An emergency fund for homeowners
Separate from your maintenance reserve, and why it matters.
Homeowners face two kinds of surprises: income surprises like a job loss, and house surprises like a burst pipe. Plan for both.
Two pots
- An emergency fund for living costs, often three to six months of essentials
- A maintenance and replacement reserve for the house
- Keep both in savings, separate from checking
Insurance deductibles
Make sure your emergency fund could cover your insurance deductible, including any separate wind or hurricane deductible.
General educational information. Costs vary by home and location. Better Home Budget isn't paid by any lender, insurer or contractor.