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Tag Archives: homeownership costs

New Homeowner? Check Out These Must-Read Tips

tips for selling your home

  Have you just made the exciting but terrifying move into homeownership? Welcome to the club! No longer is your home a rental with limits. You can switch up your abode however you please. It’s time to really make it feel like home. To do this, check out our top tips for new homeowners. Install Ceiling Fans Ceiling fans are a low-energy way to keep up the airflow in a home. Instead of turning on a bulky air conditioner that will only cool down one area of the house at a great expense, consider ceiling fans as a low-cost and more efficient alternative. Because of how air circulates, you can keep your thermostat a few degrees higher in the summer and a few degrees lower in the winter, ultimately saving you even more money. Check the plumbing Before you hire a professional, do a survey of the plumbing before you settle in. Does the toilet leak? Do you have a leaky faucet? Are there any areas that faintly smell like mold? Repair any of these issues quickly; otherwise you’ll not only have water running, but money–out of your pocket. Plumbing issues can lead to problems with home insurance, so it ...

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How Much Should You Anticipate in Hidden Homeownership Costs?

hidden costs with buying a home

This post is from Jennifer Riner at Zillow.  Making the switch from renting to owning? While historically low mortgage rates might mean your monthly mortgage costs are lower than what you paid while leasing, buyers must plan for more than a mortgage. Although you might factor in the high cost of a down payment, and the title and insurance fees you now face as a homeowner, it’s also important to consider the extra or hidden costs of homeownership. Courtesy of: Zillow   These extra costs can range from property taxes to minor landscaping fees to major roof repairs – depending on your region and the size of your property. According to a recent report from Zillow, the leading real estate marketplace and Thumbtack, a website that connects consumers with service professionals, homeowners might face $9,000 or more per year in hidden or extra homeownership costs. These include both unavoidable costs, such as utilities, and optional maintenance expenses like gutter cleaning. Unavoidable Hidden Costs The report identified three unavoidable hidden costs, which include homeowners insurance, property taxes and utilities. These are non-optional costs, meaning almost every homeowner is responsible for these dues – regardless of where they live. On average, homeowners ...

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