If you’re thinking about buying a home, there are a few costs you must consider beyond the price of the property itself.
For example, if you’re planning on moving out to the suburbs, don’t forget about the increase this move will make in your transportation costs. Whenever you make a move, you should consider how doing so will impact your daily commute. Check out this convenient tool you can use to calculate your commute expenses, here.
Another point to consider is utility costs. If you’re moving into a larger or older home than your current one, you could see a rise in your utility costs. On the other hand, you may see a decrease in your monthly bills if the home you’re moving into has energy-efficient features.
You should also think about the kind of community your new home is located in. If you’re moving to a property within a homeowners association or a community development district, there may be additional costs that need to be accounted for.
Along with the community it’s located in, there are also considerations to be had regarding the home itself. Before making your purchase, ask yourself if there are any home improvements you would like to make to the property. If there are, consider the expense of these improvements, as well as the value they might add.
Improving the home may or may not be worth it, and the same can be said for landscaping projects. Any changes or updates you make to the property must be worth it in the long run. There are a number of projects that may cost you more than they’re worth. General maintenance is another key issue to think about.
Lastly, there is the matter of home warranty. No matter what kind of home you’re purchasing, we always recommend obtaining a home warranty. The cost you’ll pay for a home warranty will be well worth it, since it could save you from other major expenses down the line.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.