4 Things to Not Waste Your Money on During the Home Buying Process
by Dan Wolf
on Monday, June 8th, 2015 at 7:51am.
The home buying process should be fun. and after all of your hard work, your new home should encapsulate everything that you want from a home.
Overall, buying a new home is an exciting experience. However, many new homebuyers don't realize just how many expenses come with it. Especially after the initial elation has worn off, and the bills start rolling in.
Here are 4 expenses that new homeowners can easily avoid.
- Expensive furniture and furnishings seem like a great idea to make your dream home that much more special. But with everything else going on, it's best to wait to furnish your home until expenses are more realized and tangible. Let that new, empty space fill up gradually, and save a score of money in the process.
- If you didn't put more than 20-percent down, you are most likely paying for some sort of private mortgage insurance. Often, this adds more than $100 to your monthly mortgage payment. To hedge it off, attempt to make a few larger payments at the first of the year. That way, after some math, the PMI will be gone for the remainder.
- Paying to beautify a new home's lawn and landscape is one thing. But paying for continual service throughout the year is a burden on the wallet, especially for new homebuyers. Scrap lawn care companies monthly service in favor of establishing your budget. Then, after some time, see what you can and can't afford.
- After so much work is put into the initial home buying process, many new homebuyers fail to do proper research into insurance. They often don't know how much to pay, or who to contact. This is especially true if they were renters before. After you settle in, spend some time looking for home insurance that fits your budget. Doing so can net you a 30-percent annual savings on your home insurance.
For more information on how we can help you, please don't hesitate to contact us at 907-248-9653 or visit us online at www.anchoragehomesearch.com.