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Top Things To Budget For When Buying A Home

Posted in Asbestos Testing | Blog | Mold Inspection on May 24th, 2016 by Ian Stevens

When setting a budget to buy a home you should consider other items in addition to the asking price of the real estate itself. Unforeseen payments can leave you stressed out, which is the last thing you want when moving into a new home. Here are some of the top expenditures that you should plan for ahead of time:

  • Closing costs: at the time of purchasing the home closing costs need to be considered, which is about 2% of the property value. These costs cover things such as property appraisal, transfer taxes, attorney fees and lender charges.
  • Homeowners insurance: one of the most important monthly charges you’ll incur is the homeowners insurance. Its cost will depend on many different factors and the nature of the damages that you wish to be insured for.
  • Repairs and maintenance work: before moving into your home you should get it assessed so that you can figure out what repair work must be carried out. If there are major structural repairs that are costly, then you need to know about them as soon as possible.
  • Furniture replacement: find out what furniture will be left behind and what won’t be. If the previous owners are taking everything with them then you’ll need to set aside a fair amount of money for some furniture.