I think your understanding is wrong. 10% is not typical [0]. Home value != mortgage amount as houses appreciate and there’s some down payment. So maybe your $5

I think your understanding is wrong. 10% is not typical [0]. Home value != mortgage amount as houses appreciate and there’s some down payment. So maybe your $500k house has a $500k mortgage in the beginning but after 10 years your house is $1M. Common guidance is 1%/year in maintenance. So add that onto your mortgage and taxes and that’s more common. It’s not the worst thing to plan 10% as you’ll end up with lots of savings. But Im 10 years in my house and never replaced carpet or hardwood floors and certainly won’t every 7 years. I have 30 years left on a 50 year roof. There’s expenses, but there’s no way I spend $100k/year on expenses and my mortgage is locked in from 10 years ago when the house was worth less and interest rates were low. [0] https://www.amfam.com/resources/articles/at-home/average-home-maintenance-costs https://www.amfam.com/resources/articles/at-home/average-hom...