Friday, November 30, 2018

Costs to Consider when Buying a Home

The Bigger Picture 

Have you been thinking about buying a home in the Port Orange or South Daytona area?  Many smart buyers have made the decision to start by contacting an experienced Realtor. This choice can help you to navigate through the often tangled buying process and can also lead to you creating a team of professionals that can help you make informed decisions throughout the transaction.

While the price of a home might seem to be in your budget at face value, forgotten costs of the buying and moving process could potentially put you over budget in the long run. Here are six costs that are often overlooked, courtesy of Redfin:
Improvements. Even if the home you buy isn’t a fixer-upper, there may be things you want to change or add to make it your own, such as new flooring, paint or countertops, which can add up to be a large expense.
Moving. Moving costs money, and the price goes up the more stuff you have
and the farther you’re moving.
Furnishings. You may want to buy furnishings for your new home, since the furniture and accessories you own now may not be enough or fit in with a new aesthetic.
Maintenance. This is an expense that catches renters especially off guard, because maintenance is usually taken care of by the building owners. You can expect to repair or replace a variety of things during the life of a home, so be sure to include maintenance costs in your budget.
Utilities. While you may already be paying for utilities at your current residence, the costs could be higher in your new home depending on the size and area. There are also some utilities that are included in rent that homeowners have to pay for, like garbage collection.
Time. You will meet with several people to sign documents, set up utilities and prepare your move—time you might take off from work. This is fine if you’re able to use vacation days, but if not, you may need to take unpaid leave.

The Mark Card Team has over 40 years of combined experience and has vast knowledge of the current Port Orange/South Daytona real estate market, as well as the intricacies of the home buying process.  If you'd like to speak with an agent about creating a long or short term home buying plan, call Mark Card or Jennifer Card at 386-566-8091.

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