Hidden Costs Of Home Ownership You Need To Know About
Home ownership is a goal for many. Down payments and mortgage payments are the big items you think about but it is the hidden costs that cause stress if you are not prepared for them. Some costs happen at purchase time, some happen every month, and some can be a surprise. Here is what you need to know about all of them. Early Unexpected Costs Many of these costs have to be paid before you even move into the home and they can easily total more than $10,000.00 you weren’t expecting to pay. House Inspections and Appraisals There are things your home inspector won’t tell you but you should find out about any possible major issues. You can use the information to negotiate a lower price or refuse to buy. Inspections cost between $300.00 and $600.00. Some mortgage lenders and insurance companies require an inspection certificate when you buy a house. All lenders require an appraisal before writing up the mortgage agreement. (You will also find out if you are paying too much for the pro...