So you want to buy a new house.
The first thing you want to do is to make sure you can afford all of the associated costs.
The price tag on the house is just the start.
You also will have up-front costs moving in.
The monthly payment will be for your mortgage but you'll have to pay utilities each month also.
Then, you need to budget for upkeep and repairs.
Check with your seller to find out what type of maintenance needs to be done regularly, and what the utilities generally run.
Remember, you have to figure in property taxes and your homeowners insurance too.
Sometimes these are rolled together with your mortgage payment and you pay it all as a lump each month, but sometimes you have to remember to pay these separately.
You need to find out if these will be separate from your mortgage payment, and how much they will add to your monthly bills.
What about setting up utilities accounts? If you have not had to open up an account with the electric or water company before, you will likely have to pay a deposit before they will turn on service.
You need to budget for this.
What appliances are included with the house? If you need to get a new stove or refrigerator to make the house livable, this will add a lot of cost.
You'll also need to figure a budget for furniture if you don't already have a house full.
If you have to renovate or do any home repairs when you move in, that is also pretty expensive.
Before you make a purchase offer, be sure to ask the seller for a property disclosure.
In a property disclosure the seller lists everything he or she knows about the condition of the house.
This includes any repairs or upgrades that have been done, and any unsolved problems that will need fixing.
Your Realtor can get you more information if you still have questions after you read over the property disclosure.
Don't be afraid to ask questions Ð an honest seller won't have problems answering them.
Remember to take a good look at your monthly expenses and budget.
Be sure, before you decide to become a homeowner, that your salary can adequately cover the new additions to your cost of living.
The first thing you want to do is to make sure you can afford all of the associated costs.
The price tag on the house is just the start.
You also will have up-front costs moving in.
The monthly payment will be for your mortgage but you'll have to pay utilities each month also.
Then, you need to budget for upkeep and repairs.
Check with your seller to find out what type of maintenance needs to be done regularly, and what the utilities generally run.
Remember, you have to figure in property taxes and your homeowners insurance too.
Sometimes these are rolled together with your mortgage payment and you pay it all as a lump each month, but sometimes you have to remember to pay these separately.
You need to find out if these will be separate from your mortgage payment, and how much they will add to your monthly bills.
What about setting up utilities accounts? If you have not had to open up an account with the electric or water company before, you will likely have to pay a deposit before they will turn on service.
You need to budget for this.
What appliances are included with the house? If you need to get a new stove or refrigerator to make the house livable, this will add a lot of cost.
You'll also need to figure a budget for furniture if you don't already have a house full.
If you have to renovate or do any home repairs when you move in, that is also pretty expensive.
Before you make a purchase offer, be sure to ask the seller for a property disclosure.
In a property disclosure the seller lists everything he or she knows about the condition of the house.
This includes any repairs or upgrades that have been done, and any unsolved problems that will need fixing.
Your Realtor can get you more information if you still have questions after you read over the property disclosure.
Don't be afraid to ask questions Ð an honest seller won't have problems answering them.
Remember to take a good look at your monthly expenses and budget.
Be sure, before you decide to become a homeowner, that your salary can adequately cover the new additions to your cost of living.