Remember These Costs When Buying A Home

Screen Shot 2015-12-23 at 1.01.04 PM

Remember These Costs When Buying A Home – Purchasing a home is an exciting milestone in your life; however, it comes at a cost and you should always want to be prepared to manage all of the costs of buying a home. Unfortunately, some costs are forgotten and then thrown at you quickly throughout the process, which can leave you feeling stressed. Check out these five costs to keep in mind when you are buying a home.

 

Home Inspection

This is one cost that you nay forget, but definitely do not want to push to the wayside. The home inspector will examine the house from top to bottom before you close on the property. If they find any problems, you can negotiate with the seller before finalizing your deal.

 

Homeowner’s Insurance

Homeowner’s insurance is frequently overlooked, but is very important to have in case of an emergency or accident. Often times your insurance will cover a lot of the damage or theft to your home.

 

Closing Fees

When you close on your new home, you are ecstatic. You have finally done it, you have purchased your first home! Now what? The closing fees will be anywhere from 2% to 5%, and cover things like loan origination fees, attorney fees, prepaid homeowners association fees and more.

 

Maintenance and Repair

Unfortunately, there are a couple of things that the home inspector doesn’t catch, or there will be things you know you will need to fix from the beginning. These small maintenance projects and repairs can really add up, so be prepared with funds set aside to tackle these problems so that you can benefit in the long run.

 

Furniture and Decor

If you are moving into your first home, be sure to set aside some money to account for the additional furniture and decor that you will need to purchase in order to fill your new home. Many people upgrade and move from small starter homes or apartments and do not fully realize the added cost of filling your new, larger home with more furniture and other decorations.

 

For more tips on costs to remember when you’re buying a home, visit here.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s