For those qualifying for a jumbo mortgage on an older or higher-value property, how are you estimating ongoing maintenance costs before making an offer?
I’m especially interested in practical budgeting for items that may not be obvious during a standard inspection—roof replacement, HVAC systems, plumbing, electrical panels, drainage, retaining walls, pools, and large-appliance repairs. Do lenders or underwriters typically want to see a separate reserve for maintenance, or is that mainly a personal-finance consideration?
I’d also appreciate suggestions for a realistic annual maintenance reserve based on the home’s age and size, plus any inspections worth adding beyond the general inspection, such as sewer scope, chimney, roof, foundation, or pool inspection.