First Time Home Buyer News

Two Expenses That Often Surprise New Homeowners – ThinkGlink

Home Equity Line of Credit You might be able to use a portion of your home’s value to spruce it up or pay other bills with a Home Equity Line of Credit . To find out if you may be eligible for a HELOC, use our HELOC calculator and other resources before you apply .

Keep Your Home Organized With a Mudroom – Palmer House Properties Even if you don’t live in colder climates, mudrooms are being built in new homes as a standard feature. My challenge for you this week is to create a dedicated mudroom "space" in your home, where you can hang coats, & store shoes, gloves, keys and bags. If you don’t have a mudroom, choose from one of the examples below. MUDROOM SPACES

Maintenance Costs – First-time homeowners often forget how all the little things add up with home maintenance, especially at the beginning when you may need to purchase things like lawn care equipment and household tools. You can easily spend 1-2% of your home’s purchase price in the first year.

Insurance protection doesn’t stop, though, with the purchase of insurance. Most homeowner’s insurance has a deductible between $500 or $1,000. As the homeowner and policyholder, you’re responsible for that deductible. This is why it’s critical to have between $500 to $1,000 minimum in an emergency savings account.

The housing market in our region can often be described as “out of control. and took into account five years’ worth of expenses that are part of owning a home – things like closing costs,

These extra costs often take first-time homebuyers by surprise. From property taxes to basic maintenance like lawn care, homeowners can spend between $7,000 and $16,000 a year. Two expenses that often surprise new homeowners. Most buyers don’t consider these big costs when calculating expenses for their home.

Fortunately, there are a few ways to plan ahead so you’re not taken by surprise. and this expense typically isn’t covered by Medicare. As one might expect, long-term care isn’t cheap either; the.

The heading says it all. As you save up your down payment, try really hard to save a bit extra for unexpected expenses once you own your own home. If there’s one thing you take away from this article, please go into homeownership with the understanding that unexpected expenses will come up. No matter what you do, these things happen.

Unexpected Expenses Always Seem To Pop Up When They Are Least Convenient: How To Plan For Them. By Peter Anderson 11 Comments-The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money.Last edited February 10, 2014.

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