Appleton | Green Bay Wisconsin Home Mortgage and Real Estate Resources

Weekly Buyers Tip - Total Cost Consideration Is More Than Just The Mortgage

Buying a home is a big investment, but owning one comes with a new set of expenses you may not have had while renting.  It is important to keep in mind that your mortgage payments are just one piece, and a fraction of what the cost will be once you move into your new home.  

When you purchase a home, there are several thing to take into account when putting together your budget. Here is a list things to think about when planning for your home purchase.

  • Home Owners Insurance. Insurance needs to be purchased before you can get a mortgage.  Insurance premiums vary greatly due to the type of home you are purchasing, the location among other items.
  • Property Taxes. Your property taxes are based on the value of your home, so the more expensive your home, the more tax you will be required to pay.
  • Utilities. If you were paying utilities when renting, you are familiar with this expense, but more space and rooms requires more utilities usage.
  • Appliances. Most homes come with most major appliances, but you may have to purchase one or two - most commonly the washer and dryer.
  • Furniture. Moving from a well furnished one-bedroom apartment to a two or three bedroom house makes one realize how much space there is to fill.
  • Home repair & Maintenance. This expense comes and goes from one month to the next, but be prepared for something to pop up at anytime when owning a home.
  • Yard Care. Caring for your yard requires large expenses such as a lawnmower and possibly a snow blower if your location is known for heavy snowfalls.  Not to mention smaller tools like shovels, rakes, trimmers and so on to complete your yard care arsenal.
  • Remodeling. From small projects, like painting, to larger items like new kitchen cabinets, hardwood floors, carpeting or a complete gutting of a bathroom, the expenses for remodeling projects vary, but often add value to your home.

I hope you have found this little tip helpful! I wish to much success in your house hunting and may you enjoy the many benefits of home-ownership.

Gwenn Tanvas is a Certified Mortgage Planning Specialists who specializes in Credit Restoration and Government Programs such as FHA, State and Federal VA and USDA Rural Housing Loans. Visit her website for more information, on-line calculators and a secure on-line application. She is able to assist with transaction throughout the state of Wisconsin. Her offices are located in Appleton, Oshkosh and Green Bay and offers the convenience of one-stop shopping. http://www.WisconsinLoanTips.com or http://www.MortgageProsOfWisconsin.com she can also be reached for comment or to answer questions via email at gwennt@centurytel.net

Proudly Serving the Residential Mortgage needs of the wonderful Veterans & People in Wisconsin. Green Bay, Appleton, Oshkosh, and throughout the greater Fox Cities areas.

My team works with each client to determine the best finance package for every scenario; Not only the impact of the loan on their finances today, but 5 and 15 years down the line. Need Credit restoration; We can help. Click Here for a no cost ~ no obligation pre-approval or consultation.

Gwenn Tanvas is a Certified Mortgage Planning Specialists who truly enjoys working with First-Time Home Buyers and Government Programs such as FHA, Federal VA and USDA Rural Housing Loans. Visit her website for more information, on-line calculators and a secure on-line application. She is able to assist with transaction throughout the state of Wisconsin. http://www.WisconsinLoanTips.com or http://www.WisconsinVetLoans.com she can also be reached for comment or to answer questions via email at gwenntanvas@gmail.com

 

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Comment balloon 5 commentsGwenn Tanvas NMLS# 274839 • June 04 2009 10:34AM
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