Haha, that's a very good point!
As I'm planning on purchasing a very similar property to the one I'm renting now, I'm not anticipating needing to buy a lot of new furniture.
I imagine (and obviously this depends on the property I purchase) that I will want to paint before I move in, but otherwise I would like to live in the property for a year or so before I make any major changes. That said, I probably should plan on at least one major thing turning out to need urgent repair/replacement.
Since I am putting a high percentage of the property value towards the purchase myself, I am debating borrowing 10k more than I need and parking it in my loan's redraw facility until I need it, so I have the money available but I'm not paying interest on it. Then, if I do need to do some work, I can either draw on that money (and increase the amount I need to pay back
) or make it a new savings goal and wait until I have enough set aside.
So, sorry for blathering on so long about this, the short answer is: thanks for the reminder, expect to see a 'renovation savings' goal popping up in this thread soon!