Make Sure You Know the True Costs to Own a House
In all the excitement of finding that perfect new house, it’s easy to ignore the warning signs you might be overspending. Don’t forget there are more costs besides just the mortgage payment.
Monthly Costs
For a smooth home-buying experience, let us help you calculate ALL your monthly costs so that you can budget it into your life before making a purchase. Determine what items you are willing to give up to make extra room in your budget for these monthly costs to live in that perfect neighborhood:
- Homeowners Insurance
- PMI — Private Mortgage Insurance
- Property Tax
- Association Fees/Dues
- Services: utilities and local services currently included in your rent such as water, power, trash, sewage, recycling, internet, cable, and phone bills. Some cities also have local monthly fees separate from property taxes to cover extra city features such as recreation areas or parks.
Other Homeowner Costs
The most complex costs to calculate or plan for are maintenance costs. These include bug treatments, light bulbs, paint, carpeting, landscaping, repairing fences, cleaning gutters, and other repairs.
As a well-qualified agent familiar with your area, I can help you figure most of these costs. All you need to do is ask.
To find homes that fit in your budget, let me show you what’s available in the Charlotte area.
