Please consider the total cost of ownership. This was the exact conversation that I had with one of my first time home buyer clients this morning. She really, really, really wants to buy her first home. And I love her excitement. However, this excitement should overtake the practical side of buying a home.
When making a decision to purchase a home please pay attention to the entire pacakage. While you could love the layout and the cosmetic features of the home, make certain that you take the blinders off when focusing on other important decision points. In addition to location pay attention to the age of the mechanical and plumbing systems, roof, the type of and cost of utilities, etc.
Many home buyers today have the resources to purchase their home, however, they don’t consider the on-going costs of home ownership or what will happen if they need to make a major repair. Obviously, the home inspection will uncover the age of a home’s systems and a call to your local utility will give you the average monthly costs of utilities. However, it is really important to consider these items before you put in an offer, because it could affect the dollar amount that you choose to pay for the home or whether or not you ask for seller closing cost help to keep more money in your pocket.
If you have questions about this or any other aspect of the home buying process, please feel freet to give me a call – 443 564 0952 or check out the Buyer Resources section of my site to get the answers you are seeking.