9 Hidden Home Maintenance Costs That Can Blindside First-Time Buyers

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9 Hidden Home Maintenance Costs That Can Blindside First-Time Buyers So you’re a first-time buyer who just closed the deal on your new home and moved in. Finally, you can breathe a deep sigh of relief.

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As a first-time home buyer, you're probably thinking about how much money. closing costs can add up to several thousand dollars on top of the down payment .. Expect to pay between 1% and 4% of the purchase price on maintenance and .

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So you’re a first-time buyer who just closed the deal on your new home and moved in. Finally, you can breathe a deep sigh of relief. After all, you managed to pony up a down payment, closing costs, and other sundry expenses.

 · Many first-time home buyers don’t, and if your property has older trees on the grounds, tree trimming or removal can cost a pretty penny. For instance, having a tree completely removed can average $4,000 or more.

The hidden costs of owning a home in the 16 biggest cities in America. from insurance to taxes to maintenance, Zillow found in a previous report that nearly 40% of first-time buyers exceed.

Given that almost half of home shoppers are first-time buyers, some of these costs may come as a surprise and will definitely have a meaningful impact on potentially tight household budgets. Determining how much you can afford is one of the most challenging aspects of home buying, especially for first-time buyers.

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8 Hidden Home Expenses All First Time Buyers Need to Know. Your new home is the big investment. Planning for the ongoing and upfront expenses that are part of owning a home will protect that investment. In addition to your mortgage payment, you will pay on average around $1,200 a month in homeownership expenses.

Here are hidden home maintenance costs that first-time buyers often forget. The post 9 Hidden Home Maintenance Costs That Can Blindside First-Time Buyers appeared first on Real Estate News & Insights | realtor.com .

A would-be buyer would need to have a 10 per cent cash deposit to put down in the first place, as well as money for stamp duty and legal costs. And once you own the property, there will be maintenance.