5 Expenses You May Not Think About When You Buy a House
It’s exciting to buy your very own house. Your family can finally settle down in a serene neighborhood and forget about paying rent. If you’ve been saving up for a house, it’s important to buy one that pleases you and your family. Don’t forget to factor in all the hidden costs that are bound to arise.
Here are 5 expenses you may not think about when you buy a house:
Home warranty
Most new homeowners barely think about getting a home warranty until push comes to shove. However, it’s an essential component that you should worry about when purchasing a house. Unlike home insurance which is mandatory and limited to certain perils, a home warranty protects you from a vast array of hazards. It’s uniquely designed to fit your individual needs. Home warranties help to protect people’s personal belongings, offering compensational relief in case something happens. If you’re wondering what the best home warranty companies out there are, check out: https://www.crediful.com/best-home-warranty-companies/
Property taxes
Apart from the regular taxes that all citizens are obliged to pay, homeowners are also subject to property taxes. These are charged by the local government and they vary from one state to another. Property taxes are important because they help facilitate community safety, build public learning institutions, maintain infrastructure projects and provide other essential services to the general population. It’s possible to calculate your property tax or have a professional do it for you.
Lawn care
So you’ve finally bought that house with a big lawn. You’re happy that the kids will have ample space to jump around and play. Having your friends over for barbecues finally sounds like a realistic idea. However, there’s one huge cost you’re probably overlooking: lawn care. On average, families spend as much as $267 per month taking care of their lawns. The most popular lawn care activities are fertilizing, mowing and pest control.
Maintenance costs
The house you’re moving into will probably need a thorough maintenance job. For instance, that chimney by the fireplace might need to be repointed. The gutters will also need cleaning and the roof will require a detailed repair. As a new homeowner, you ought to brace yourself for such maintenance costs. After all, you want a decent home devoid of leaking pipes, squeaking doors and faulty faucets. If you can’t foot the entire maintenance bill, talk to family and colleagues who have some repair experience.
Pest control costs
Pests are reviled creatures that mysteriously appear when least expected. Homeowners are often faced with the challenge of dealing with rodents, termites, bats, cockroaches and other pests. Rather than making your home a shelter for unsightly insects and pets, it’s wise to call an exterminator or pest control specialist whenever you spot these unwelcome visitors. Bed bugs can spread really quickly and cause sleepless nights to family members, so have the house sprayed down to eliminate them. Pest control will likely cost more than you’d anticipated. However, it’s a necessary cost.
Ensure you’re ready to cater for these 5 unforeseen expenses when buying a new house.
