If you are considering buying your first home then you might want to look at the expense of owning a home above and beyond the new house payment.
First let me say that I believe whole heartedly in home ownership for everyone. There is no better feeling. But, it is also important to be able to comfortably pay for that home in all of its aspects. If you need to buy a cheaper home and upgrade later then do that. If you understand all of the expense and you still feel comfortable then by all means go for it.
If you have been renting then you probably call the landlord every time something breaks. And when you do, the landlord foots the bill for the cost of those repairs.
When you become the homeowner then the cost of fixing the HVAC, the leaky faucet, replacing the hot water heater, etc will need to be paid for by you the owner.
It is a good idea to put away a certain amount every month which will be used for home repairs or upgrades so that it won’t be a burden when something needs to be repaired or you decide its time to replace the roof.
If you are a good handyman then you can also save a lot of money on this type of expense, which will save you a lot of money.
The other cost that you will need to consider, especially if you have been renting an apartment, is the cost of maintaining the lawn. If you plan to do it yourself then you will probably need to purchase such things as a lawnmower, clippers, weed eater, rack and extra trash bags. If you plan to hire someone for this task then consider that extra monthly cost.
And of course you may need additional window treatment. More than likely what you had in your apartment won’t fit in your new home and it is a good idea to at least cover the windows whether you have furniture in the room or not.
If you are having a house warming party then don’t forget to mention these types of items on your want list.
A home of your own is a wonderful thing to have. So cover all your bases and go for it.
Jackie has been publishing online for several years on a variety of subjects and interest. Come visit her latest site at Check Credit Score which offers information about why and how to get your Tri Merge Credit Report and checking your credit scores on an annual basis.