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Hidden Costs of Buying a Home
One thing to educate yourself about before buying a home is the hidden costs of buying and owning a home. Most people are aware about the cost of an inspection and appraisal. But these are 5 other things to think about:
1) Review the inspection for potential repairs or upgrades - if you have found the perfect home, but it will need a new furnace within a few years and the sellers won't replace it, will you be able to fit that into your budget?
2) Understand your home insurance policy so if you have a loss, you will be prepared for whether or not it is covered by your insurance.
3) Plan for monthly bills that might be different for a larger home. Extra utility costs is one that can surprise you. Here's a Utility Tool that might be helpful.
4) Prioritize your renovations - you might need to replace that nasty carpet right away, but be able to wait to upgrade the master bathroom.
5) Calculate Affordability - how much of a monthly payment you can afford is directly related to how much of a down payment you make. Evaluate the pros and cons of making a large down payment. It will help out on your monthly mortgage payments, but it might also deplete your emergency fund.
Click on "Read More" at the bottom of this page to read the article.
Whenever you are ready, here’s some ways that I can help with your real estate goals:
1) Free Access to search the Denver MLS for all homes currently on the market: Denver Home Finder Service Property Search
2) Join me for a home tour - Home tours are Monday thru Saturday at 2:00 pm or 6:00 pm - choose your tour here
3) Request a specific search that sends all the homes that meet your parameters as soon as they come on the market - that way you can beat others to the best homes. Send me an email with "specific search" in the subject line and your wish list - Price range, school district, style, minimum number of bedrooms, etc. - Vickie@DreamsCanHappen.com
4) Receive a Home Loan Report –There are so many different loan programs. Do you need 20% down payment to purchase a home? Are there special programs for first time home buyers? What does CHFA mean? What's the difference between a FHA loan and a Conventional loan? Send me an email - - Vickie@DreamsCanHappen.com with "Home Loan Report" in subject field and I'll send it right over.
Also….check these out??
Denver Home Finder Service
Denver Home Seller Service
1) Review the inspection for potential repairs or upgrades - if you have found the perfect home, but it will need a new furnace within a few years and the sellers won't replace it, will you be able to fit that into your budget?
2) Understand your home insurance policy so if you have a loss, you will be prepared for whether or not it is covered by your insurance.
3) Plan for monthly bills that might be different for a larger home. Extra utility costs is one that can surprise you. Here's a Utility Tool that might be helpful.
4) Prioritize your renovations - you might need to replace that nasty carpet right away, but be able to wait to upgrade the master bathroom.
5) Calculate Affordability - how much of a monthly payment you can afford is directly related to how much of a down payment you make. Evaluate the pros and cons of making a large down payment. It will help out on your monthly mortgage payments, but it might also deplete your emergency fund.
Click on "Read More" at the bottom of this page to read the article.
Whenever you are ready, here’s some ways that I can help with your real estate goals:
1) Free Access to search the Denver MLS for all homes currently on the market: Denver Home Finder Service Property Search
2) Join me for a home tour - Home tours are Monday thru Saturday at 2:00 pm or 6:00 pm - choose your tour here
3) Request a specific search that sends all the homes that meet your parameters as soon as they come on the market - that way you can beat others to the best homes. Send me an email with "specific search" in the subject line and your wish list - Price range, school district, style, minimum number of bedrooms, etc. - Vickie@DreamsCanHappen.com
4) Receive a Home Loan Report –There are so many different loan programs. Do you need 20% down payment to purchase a home? Are there special programs for first time home buyers? What does CHFA mean? What's the difference between a FHA loan and a Conventional loan? Send me an email - - Vickie@DreamsCanHappen.com with "Home Loan Report" in subject field and I'll send it right over.
Also….check these out??
Denver Home Finder Service
Denver Home Seller Service
