The Extra Costs of Buying a Home

source: imagehomeimprovements.com

source: imagehomeimprovements.com

Buying a home is a huge life decision and an enormous financial commitment. And it could be even more expensive than you originally planned! If you are thinking of moving, not just house but location, to Australia for example, you could look into WA Building Company, who provide homes that you can design, in order to create your dream home. It will be a commitment, but worth it.

Thinking about how you are going to get your furniture from your old house to the new house? Do not worry. You can always look into trying to find an ebay courier to help you transport your belongings to you, safely and conveniently.

Between buying costs, moving costs, utilities, purchases, insurance, maintenance and renovations, things can really add up. Here are some things you should be planning for before buying a home.

Buying Costs:

-Appraisal to confirm a reasonable market price for property

-Inspection of structural, mechanical, pests, etc.

-Real Estate attorney to review contracts (depends on the state)

-Possible homeowners association fees

Moving Costs:

-Packing, storing and transporting possessions and yourself.

-Are you hiring movers?

-Do you need a moving truck?

Utilities:

-The cost of setting up telephone, electricity, gas and water.

New Purchases:

-Buying a new home also usually means buying new appliances and furniture to fill it. For example, you might decide to treat yourself to a new memory foam mattress or a new coffee maker for the kitchen. These things will cost you.

Maintenance & Renovations:

-Trees fall on roofs

-Gutters need cleaning

-Driveways need repair

-Painting, roof repair, plumbing & wiring

-Rule of thumb is to budget at least 1% of your home’s purchase price each year for home maintenance costs.

Homeowner’s Insurance:

-Homeowners insurance covering both the property and its contents.

-Depending on where you live, you may also want to buy insurance for natural disasters.