Unexpected Costs for First Time Homeowners

Buying one’s first home is a very exciting time. In all of the excitement, there is also often a bout of nerves because the process can be complicated, confusing, and expensive. A lot of people feel relief once they make their down payment on the perfect home but it is important to make sure that they have additional funds saved due to all of the unexpected costs of purchasing and owning a home. Here are a few cost-related things to keep in mind when buying a home so when the time comes, there aren’t too many unwelcome financial surprises.

  • Will the previous owner of the home be taking major appliances such as a refrigerator or washing machine? If so, be ready to buy a new one.
  • Hiring a home inspector is a cost in itself but if the inspector uncovers problems with the house, the homeowner may be faced with thousands of dollars in necessary fixes
  • The cost of moving from an old place into the new one. Will the buyer need to rent a moving truck?
  • Remember, the bigger the home, the more furniture that is needed to fill the home

It is important to budget carefully and be prepared. Speak with an experienced real estate professional to discuss the hidden costs of buying.

The law firm of Mattleman, Weinroth & Miller, P.C., is composed of experienced attorneys throughout the states of New Jersey, Pennsylvania and Delaware. Please contact the office to schedule a free initial consultation and get any questions answered regarding your specific case.