3 Areas of Cost Involved With Buying a House

Everyone knows that buying a house is a big purchase. However, have you ever really sat down and thought about how much money is really involved?

There are ตึกแถว รัชดา 3 basic areas you need to consider when buying a house:

Upfront Costs Recurring Costs Future Costs

Upfront Costs

These are the most straightforward costs. Unfortunately this is often the only cost that people consider when they decide that they want to buy a home. The upfront costs can include:

House Downpayment Closing Costs Moving Fees Appliances Furniture

These costs definitely need to be considered as they tend to be the biggest portion of all the costs. But it is important to remember that we still have two more areas to cover.

Recurring Costs

Once you've moved into your house you will probably feel broke because you just handed over the biggest check you'll ever see in your lifetime. However, I really hope that you're not broke yet because you just bought a boatload of recurring bills. Congratulations!

Now that you're a homeowner you need to worry about necessities such as:

Gas Electricity Water Garbage Removal

and if you want to be connect to the outside world:

Phone Bills Internet Cable

Even if you were living on your own before, you probably didn't have to worry about all of these bills. Most apartment complexes will at least take care of your water and garbage bills. They may not always be expensive, but don't forget to pay them!

Future Costs

The Future Costs can be the most annoying. While some of them you can plan for, some you never know exactly when they are coming or if they are coming at all.

The most notable Future Cost is actually a recurring cost, but thankfully it only comes once every year. This is your Property Tax. Once a year you are now responsible for paying your property taxes. This is a fee imposed by the government that costs a few thousand dollars. The exact tax varies from house to house and can change each year.

The good part about Property Tax is that you know it's coming, so you can save for it.

Other Future Costs generally include home maintenance and improvement items.

If the furnace breaks in the middle of winter, you need to get it fixed. If a storm puts a hole in your roof, you need to get it repaired. If you want to repaint the house, you will have to pay for it. If you want redo the deck, you have to find the time and money to get it done.

No one has ever said that being a homeowner is easy or cheap. So before you jump into it, make sure that you are prepared to take on all the costs that are involved.