Forgotten Housing Costs that Could Bust Your Budget
From a First-Time Homebuyer’s Perspective
Purchasing your first home is super exciting! Walking into that home and already fantasizing about paint choices, furniture, decorating, and where you see your family and friends hanging out is exhilarating. For the most part, you understand that purchasing a home can be expensive, but there are a few fees that some people forget about sometimes:
Improvements
They seem easy enough but can be costly depending on how handy the previous occupants were. Don’t let that deter you, though. Make sure you put some money aside for improvements prior to setting your overall homebuying budget. The return on this could be huge when placing the home on the market again.
Moving
Make sure to get quotes from numerous moving companies or enlist friends with muscles to help. Professional movers can cost more during the busy season, so make sure to keep that in mind.
Utilities
There can be additional fees than what you’re used to when renting. HOA dues, association dues, sometimes water and electric, or even lawn and pool maintenance. Make sure to have a rough estimate of what you can afford each month as your all-in number. Then, work on finding homes within that number and specify to your local real estate professional if you would like to be in a community with an HOA or association.
Time
The age-old saying that time is money is true. Be mindful of when you need to sign important documents and schedule inspections, among other items, as you will most likely need to take time off of work to be present.
Buying your first home is an extraordinary accomplishment! If you have any questions about pre-approvals, mortgages, or anything related to real estate that the Jen Martinez team can help with, please reach out at (813) 480-4747 or send me an email!
All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. CrossCountry Mortgage, LLC (“CrossCountry”) does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by CrossCountry.