Besides a slight increase in our mortgage payment, what are some other costs we should expect when moving into a single family home. I'm kind of worried about all the hidden costs in this decision.
2007-05-31 02:37:36 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
My husband and I are also facing this dilemma. We are closing on our first home mid-June. So far, we've had to shell out quite a bit of cash just to get the home in option pending period.
Once we move in, we will now be paying higher mortgage, Home Owner's Association fees, lawn maintenance fees, higher utilities as the home is much larger, property taxes and this is just what I know so far.
Who knows what surprises may come when we really move in. If you check back with me next month, I can try to give you a heads up.
2007-05-31 02:47:44 · answer #1 · answered by Patty R 3 · 0⤊ 0⤋
It really depends on the size difference. If it's a bigger home than you have now, your utility payments will rise. You will have to take care of your yard, so you'll need lawn care equipment or to pay someone to do this.
On the bright side, You will actually save money each month by not paying association dues (unless you are in a housing development with your new home).
2007-05-31 02:47:25 · answer #2 · answered by Enchanted 7 · 0⤊ 0⤋
I would not expect much difference. Maybe an increase in Property Taxes, which you should have been told this by the seller/agent what it is per year. Maybe more for Lawncare. Then Utilities may either go up/down depending on various factors. This is all I can think of that may or may not increase.
2007-05-31 02:48:14 · answer #3 · answered by Snaglefritz 7 · 0⤊ 0⤋
Well you are going to have to take care of the yard and other maintenance. You are also going to have home owner's insurance. On the plus side there are no HOA fees.
2007-05-31 02:47:42 · answer #4 · answered by WJVV 4 · 0⤊ 0⤋