ArticlesBase.com - Free Articles Directory
Free Online Articles Directory
27.08.2008 Sign In Register Hello Guest
Email:
Password:
Remember Me 
forgot your password?


New Homebuyers: Have You Considered The Hidden Costs Of Owning A Home?

Author: Kris Bickell Author Ranking Blue | Posted: 21-08-2006 | Comments: 0 | Views: 125 | Rating:  (54) Article Popularity - Blue (?) Got a Question? Ask.
Sign Up Now!

There's no better feeling than pulling into your driveway ... cutting your lawn ... cooking in your kitchen ... swimming in your pool. After all, owning a home is the "American dream".

But the cost of maintaining your home can quickly turn into a nightmare, if you are not prepared.

When you go through the home buying process, you'll learn all about the mortgage, closing costs, homeowners insurance, down payments, inspection. These are all standard expenses when buying a home.

But what happens after you move in?

Here are 5 "hidden costs" all first time homebuyers need to consider when planning your budget for your home purchase - so you don't end up in a pile of credit card debt:

1) Furnishing your home - if you're buying a home that's bigger than your current residence, make sure to have some money set aside for new furniture. Having lots of rooms is nice. But having empty rooms can get frustrating very quickly.

2) Tools and equipment - if you're renting, most (if not all) of the maintenance is done by the landlord. Stocking up on new hardware, lawn equipment, power tools all cost money. And while your first trip to your local home improvement center can be exciting, it can also be very expensive, so be prepared!

3) Replacing broken items - one of the most unpleasant aspects of owning a home is maintenance. No matter how old or new the house is, things break. And they often break at the wrong times (when money is tightest, right after a big expense, etc)! Fixing a broken lock is relatively simple and inexpensive. Replacing a furnace or roof usually requires an expert, and a big savings account.

4) Fees for services - if you are hooked up to city water and sewer, there is usually a fee that is not covered by your local property taxes. If you have a well and/or septic tank, these require periodic cleaning and maintenance. You may also have to pay for garbage pickup, recycling, lawn maintenance, snow removal, etc. While most of these are not that expensive, they can add up quickly!

5) Making the house "yours" - even if you move into a house that is in great shape, chances are you will want to add your own personal touch. If you move into a house that needs some work, you may have to add lots of personal touches (and lots of paint and accessories). Even if you like "do-it-yourself" projects, materials cost money.

And don't underestimate how much time you'll spending getting - and keeping - your house the way you want it.

Don't be discouraged by all the "hidden costs" of home ownership. Just make sure you have a budget, and a plan, for making your house your own!

Rate this Article: Current: 0 / 5 stars - 0 vote(s).

Article Source: http://www.articlesbase.com/advertising-articles/new-homebuyers-have-you-considered-the-hidden-costs-of-owning-a-home-48665.html

Print this Article Print article   Email to a Friend Send to friend   Publish this Article on your Website Publish this Article   Send Author Feedback Author feedback  
About the Author:

Kris Bickell operates HouseBuying-Tips.com to help first time homebuyers avoid costly mistakes when buying a home. Signup for the free course How To Avoid These 10 Costly Mistakes When Buying Your First Home.

Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free!

Article Comments

Comment on this article Comment on this article
Your Name
Your Email:
Comment Body
Enter Validation Code: Captcha


Related Articles

Beware - Watch Your Realtor and Mortgage Broker
By: Jan Wilhelm | 28/03/2006 | Finance
Just because your realtor and mortgage broker have lots of experience, don't trust them. Stay on top every step of the way. They may forget something important.

Top Tips for First Time Home Buyers
By: Todd Brillon | 20/08/2007 | Loans
Buying your first home needn't be as daunting or as stressful as you think. The process is very much like a recipe for cooking. Adopting a pro-active perspective from the day you decide to buy a home until you walk out of closing or escrow can be the single largest decision you make that will impact your overall home buying experience.

Millions Have Been Helped - Fha Home Loan Program
By: Kate Ford | 26/08/2008 | Finance
Imagine it is 1934. The United States is in the depth of the Depression. Out of every ten households, only four own their own homes.In 1934, the federal government created the most successful government program in history, the Federal Housing Administration, also known as FHA. The purpose still today - to revive the dream of homeownership.

Standard Coverage for a Home Warranty-what to Expect
By: Stephanie Larkin | 24/02/2008 | Home Security
Home warranties have been around for years. However, until recently, home warranties were a well kept secret. Today, home warranties are much more common and are steadily rising in popularity.

Your First Home: What You Need to Know Before You Buy
By: Jake Marsh | 16/06/2008 | Real Estate
The experience of purchasing your first home can be overwhelming. But it doesn't need to be. There are certain valuable insights that'll help you along the way, and ensure that you are in charge of your experience. Of course a great realtor can help you immensely, but as with anything in life you should know as much as possible, so you can make informed decisions that reflect your needs and desires.

Advantages of a Real Estate Agent
By: Fernando E Oliveira | 10/05/2006 | Real Estate
A lot of people don't know the differences of buying a house from a real estate agent, or directly from the owner.

Buying a House...within your Means
By: Aaron Carlock | 28/08/2007 | Real Estate
10 things to remember about buying within your means when purchasing a home.

First Time Home Buyer Tips
By: Ken Black | 21/11/2006 | Advice
For the first time home buyer, buying your first home is one of the most exciting things you will ever do. If you have spent years living in apartments, there is nothing more satisfying than owning your own property.

Got a Question? Ask.

Ask the community a question about this article:

Q&A Powered by:
Powered by Yedda 

Latest Advertising Articles

Are You Looking For A More Affective Way To Advertise?
By: Kristi Ambrose | 27/08/2008
Although posting to groups is a good thing to do, it also can take up a lot of your precious time. So, then what? Well there are actual people that will do this for you!. They allow you to automatically post your ads on these groups, which saves you incredible amounts of time.

A Website Can Be An Asset Or A Flop Depending Upon How You Prepare
By: Robert Schumacher | 26/08/2008
A business website is not a silver bullet that will automatically wake up your business and propel you to new heights.

Best Practices for Transporting Trade Show Displays
By: Amy Nutt | 23/08/2008
Transporting your tradeshow display doesn't involve rocket science, but it isn't something you want to skimp on either. It does take a bit of planning and coordination. Why do you need to be so careful?

Different Ways of Customizing Trade Show Displays
By: Amy Nutt | 23/08/2008
Your trade show display is going to make you or break you. It is that one thing that customers seem to see once. If your display looks good, then the customer will move onto what type of products you're selling.

Mascots and the Olympics
By: Amy Nutt | 23/08/2008
The first Olympic mascot was introduced in 1972 at the Munich games. These mascots have become a very important element of the Olympics. It is an image that is unique and very popular because it materializes the spirit of the Olympics, promotes the history, and communicates the overall concept.

Innovative Ways of Attracting More Visitors to Your Trade Show Booth
By: Amy Nutt | 22/08/2008
When operating a trade show booth, you have to do things that will make customers want to look at what you have. That requires you to be very creative, though. If you're not creative, then you're going to be doing the same exact things that everyone else is doing.

Fall Is The Perfect Time To Clean Blips Off Your Marketing Slate
By: Robert Schumacher | 21/08/2008
Marketing blips keep poppiing up in advertising programs of small businesses. These blips throw up roadblocks and put a ceiling on revenue growth while limiting the effects of advertising. Erase them now.

During Shaky Tmes, Be Careful What You Cut
By: Robert Schumacher | 19/08/2008
When the going get rough, small business owners and managers correctly cut expenses. Advertising should not be one of those cuts. A shaky economy offers an ideal opportunity for the small business to gain market share if they hang in and continue to advertise.

More from Kris Bickell

How Can You Tell If A College Offering A Distance Learning Degree Is Legitimate?
By: Kris Bickell | 31/07/2006 | Advertising
Are you considering getting your college degree online? But not sure how you can tell if the college offering the degree is legitimate? Online courses and online degree programs continue to grow in popularity.

Credit Counseling: What Does The Recent Irs Ruling Mean For You?
By: Kris Bickell | 31/07/2006 | Advice
On May 15 the Internal Revenue Service announced that it revoked tax-exempt status from dozens of "credit counseling" agencies.

Do It Yourself Debt Settlement - Does It Really Work?
By: Kris Bickell | 08/07/2006 | Advice
Debt settlement is good alternative to bankruptcy for many consumers struggling with high credit card debt. In most cases, consumers will hire a professional debt settlement company to work with their creditors to pay off their debt at a reduced amount.

3 Tips For Becoming An Outstanding Online Instructor!
By: Kris Bickell | 20/05/2006 | Advertising
Distance Learning is a popular choice for many college students these days.

5 Tips For Hiring A Professional Debt Settlement Company!
By: Kris Bickell | 20/05/2006 | Advice
If you're considering using debt settlement to help you pay off your credit cards, here are 5 tips to help you decide on a company to help you.

How To Promote Your Home Based Business On A Shoestring Budget!
By: Kris Bickell | 09/05/2006 | Affiliate Programs
Getting customers is the key to success in any business. There are many ways to promote your home based business - the only way to know which ones are best for your business is to test.

How To Determine If A Home Based Business Is Right For You!
By: Kris Bickell | 03/05/2006 | Advertising
Is a home business right for you? Answer the following questions to find out! Here's How: 1. Do you have space in your home? You will to set aside space in your home - quiet space that is well equipped - in order to run a successful home business.

How To Create A "Unique Selling Proposition" For Your Home Based Business!
By: Kris Bickell | 27/04/2006 | Home Business
No matter what type of business you are running (or plan to build) you will likely have competition. Most people think competition is a bad thing - and if you try to take on your competition "head on" it probably is.

Article Categories






Give Feedback

Sign up for our email newsletter

Receive updates, enter your email below