Though buying homes has become very affordable nowadays and there is a wide variety of houses to choose from, it is important to know that there are other costs associated with buying a home apart from paying the mortgage. Especially if it is your first time to buy a house, you might overlook other unrecognizable costs of buying the home due to the excitement the process involves. For more information kindly visit us at http://lajollasandiegohomes.com/

1. Unexpected Costs When
Buying a House
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2. Unexpected Costs When Buying a
House
Though buying homes has become very affordable nowadays
and there is a wide variety of houses to choose from, it is
important to know that there are other costs associated with
buying a home apart from paying the mortgage.
Especially if it is your first time to buy a house, you might overlook
other unrecognizable costs of buying the home due to the
excitement the process involves.
The unexpected costs might be the determining factors
between enjoying your stay at your new home and foreclosure.

3. Unexpected Costs When Buying a
House
You will not just spend what the lender qualified you as
mortgage for the house.
You will have to spend on other things such as
decorating, repairs, improvements and utilities of the house, just
to mention a few.
When buying a house, you should make a point of setting aside
funds for unanticipated expenses such as a roof leak or a
broken HVAC.

4. Unexpected Costs When Buying a
House
Even though you may have homeowner's insurance cover, it is
not something that you can totally rely on since it may have
gaps and therefore there may be some things it does not cover.
Homeowners insurance does not cover for instance, floods.
So in the event that the basement stairwell drain gets clogged,
you will need to spend your own money to fix it.
It is important for you to be aware of the coverage limits of the
insurance plan you take as well as deductibles.

5. Unexpected Costs When Buying a
House
Before you take an insurance plan, you can shop around and
compare the rates so as to use the best one that will allow you
to save money with a policy that covers your house as well as
automobiles.
Other unexpected costs include simultaneous unforeseen
expenses such as a fridge on the fritz and car transmission
failure.
In the event that you are living on the edge of the economy,
such expenses can overwhelm you.

6. Unexpected Costs When Buying a
House
You need to have about 5,000 to 10,000 dollars in your liquid
savings which you can convert into cash easily anytime with
minimum risk of capital loss.
Taxes are also part of the unexpected costs you will have when
buying a house.
As a homeowner, you will be required to pay property taxes.
These taxes are usually part of the escrow that you are
supposed to pay every month.

7. Unexpected Costs When Buying a
House
Note that your taxes for the home can still rise even if you are on
a fixed rate home loan.
This will in turn increase your housing costs every month.
When you are moving things to your new home, there are
expenses you will also incur.
Apart from paying a moving company, you will be required to
rent a truck which will transport your belongings to your new
home.

8. Unexpected Costs When Buying a
House
Other costs include the utility bills such as the costs for
electricity, water and gas.
Note that these costs may be slightly higher in your home, so
you should be prepared to pay more.
You may also be needed to pay for the internet, garbage
collection and also phone bills.

9. Unexpected Costs When Buying a
House
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10. Unexpected Costs When
Buying a House
Brought to you by www.LaJollaSanDiegoHomes.com