utilities
Utility costs are hard to forget, as they come with a bill each month. These include everything from water and electricity to your home telephone, cable TV and Internet services. In total, utilities can amount to $500 per month, and sometimes more. For this reason, it is important for potential homeowners to budget for these costs.
While some utilities are optional (such as cables), others are a necessity. For this reason, it is important that you know the estimated cost of the utilities you will need to pay for each month. Remember that utility costs increase every year, often at a higher rate than inflation. Prepare your budget accordingly.
change
By additions, we’re usually referring to things like decks and patios. However, additions may also include sunrooms, standalone garages, and expanded kitchens. And then there are things like installing air conditioners or swimming pools. Basically, anything you add to your home (or property) that wasn’t there when you bought it is considered an addition.
Most additions are not cheap. The cost of a pool can exceed $30,000. A wooden deck can easily cost $10,000 or more. As a rule, any addition to a home doesn’t come cheap. Contractors charge a lot for their time and expertise, and the cost of materials like lumber and cement is rising all the time.
condo or hoa fees
This may only apply to people who live in condominiums or gated communities. On the other hand, more and more regular neighborhoods now belong to a Homeowner’s Association (HOA). Regardless, there may be a monthly fee to keep up with where you live. These fees are typically charged for upkeep and maintenance of a condo building or the grounds of the community where they live. Condo or HOA fees will be $500 or more per month.
Once you move into a condo or community, there’s no respite from paying a monthly fee. You can’t get out easily. For this reason, you need to make sure you are aware of these charges before completing your purchase. Understand the services provided for a fee. If you think they’re excessive or inappropriate, you may want to find another place to hang your hat.
