Real Estate

Buying a Home Costs beyond The PITI

Fri May 28, 2010 8:27 am
Comments: 0 Views: 251

When buying a home typically the buyer is looking at PITI, Principal, Interest, Taxes and Insurance. This is only the beginning. Homeowners need to think how owning a home will impact their future expenses. Having dinner out may be the exception rather than the rule. Will the home owner think about their vists to their local Home Depot, ACE Hardware Store, and or Garden Center.

Invariably any new homeowner will either be painting (even if it is a new home) adding shrubs, building a deck etc etc. This costs money, usually not a commodity available to the new homeowner.

when thinking of buying any home new or resale buyers ought to plan a repair fund of about $150 month or $1800 per year for emergency repairs. Yes, owning a home is wonderful, however costly. When renting you may call the landlord for repairs. When you are the homeowner you are the one responsibnle for repairs.

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