Budgeting for the costs when buying a home in Jacksonville NC?

After sitting down and looking at your budget, talking over and over again about what you can and can not afford, you are pretty sure that you have arrived at a price range that you as a home buyer feel comfortable with. You have done your homework and talked with several mortgage companies and they have pre-qualified you for that price range. So, you are pre-qualified, so off you go with your buyer agent to find the home of your dreams.Home for Sale in Jacksonville Commons

Seems like a perfect scenario right? You have taken all the steps to ensure that you are buying a home within your means. As long as you stay in that price range you should be good to go, right? Well, not always!

One of the things that a lot of home buyers might not consider is the monthly expenses of owning that home. How much will your electric bill be? What is the average monthly costs for water and sewage? Trash? Cable, etc. Monthly expenses might be something that we forget to think about in our home buying process, not to mention the yearly expenses you can encounter such as termite and pest control. Sometimes, in our excitement, we forget to consider some of the smaller details that could end up costing us a lot in the long run.

When you are considering buying a home, you should do a little research when possible to find out which local utility company services that area and where their offices are located. Which company actually services your area, what fees are involved in getting connected, are any deposits required, and what are the projected monthly fees. Every house is different and even though most companies might only be able to give you an estimate, this gives you a much better idea of what your monthly utilities will be.

You might find that a newer house will have a lower monthly utility bill due to energy efficient appliances and equipment. Where as, an older house the same size, will cost more monthly because of older equipment that are not as energy efficient and may not be insulated as well. An older house with newer updates might be the same as a newly built home.

The point is to really know what your total monthly are going to be. When you are given that price range don’t just assume that you can afford all that comes with the house in that range. You might find that you need to set your own limits within that price range to account for larger utilities. Utilities have to be paid, and living in a home that fits your budget on paper is not the same as living in a home that fits your budget in reality.

Even though we can’t plan for everything, most of your monthly bills can be estimated and figured into your budget. When you do this you not only are putting yourself in a better position but you are allowing your budget some breathing room. Enjoy your new home, don’t stress it when your bills come flowing in the door. Be prepared.

To have a better understanding of the cost incurred in buying a home before you even walk through the door, take the time to read this e-book. It will give you insight on some of the costs you as a home buyer you can expect. Click on the image below for link to Home Buying Guide:

Home Buyers Guide

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