Purchasing a new home is filled with a mix of emotions. Its is an exciting new adventure in life, yet the costs involved can add a significant amount of stress. That big listing price along with the monthly mortgage might seem a bit intimidating. After all, this is a large financial commitment. The more accurate expectations you have going in the better this experience will be. Don’t miss the following costs given by Hickory Hills IL real estate agent Chris Budz that buyers often overlook.
Gas and Electric
Everyone expects to pay utilities wherever they live. However, the surprise comes when the amount you pay for these each month changes. This is especially true if you are transitioning from renting to owning for the first time. It costs a lot more to heat a house than it does your two bedroom apartment. Also, if you were renting there’s a chance that your landlord covered paying for water. This will be your responsibility in your new house. As a real estate agent in Hickory Hills IL preparing buyers with accurate expectations is an important part of serving them.
When you go through the process of buying a home, the seller will disclose to you information about the condition of the house. Don’t assume that this means that you won’t have to do any maintenance on the house, however. Serving as a Realtor in Hickory Hills IL has shown that maintenance on a home comes sooner or later. It is best to prepare financially before things break down. You don’t want your water heater to break and be caught without the funds to replace it. Here is a quick list of typical repairs you will need to make eventually:
One metric to use to prepare financially for maintenance issues is to estimate about one to three percent of the price of your home per year.
Move In Day
Sometimes buyers can get so wrapped up in the many financial details involved with a home purchase that they neglect to think about moving costs. Will you need to rent a truck? Or a moving team? Perhaps you will be purchasing new furniture. It is best to price this out beforehand. In the beginning of the buying process you might assume that you will simply move all of your existing items into your new home. However, as you think through how to decorate, new furnishings become more appealing. For help planning your next move in or around the Hickory Hills IL area, contact Hickory Hills IL real estate agent Chris Budz!