How home improvement funds upgrade your new house to a home

IF you’re preparing to buy a home, you’ve probably been saving up for the down payment and other closing costs. But if that nest egg can only get you through the front door, it may not be enough.

Once you own the home, you also own its peeling wallpaper, aging water heater and the carpet on which past owners’ pets have traipsed. A home improvement fund can help ensure your newly purchased house is a well-functioning, comfortable home.

Here’s why home improvement savings are a homebuyer must-have and how to build yours.

REPAIRS AND UPDATES ARE INEVITABLE

A home inspection identifies repairs the house needs now or eventually, giving some indication of the expenses you could be taking on.

If the inspection finds significant issues, your real estate agent may recommend asking the seller to pay. But in locations where housing inventory is tight and sellers have the advantage, buyers