Our Real Estate Blog
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When you’re buying a home, there’s a lot of excitement that surrounds the search and purchase of the property. In the process of buying a home, however, there are many things that buyers forget to take into account during their search and budgeting. Below, you’ll find some information to help you be prepared as a buyer to consider your home purchase from all angles without missing a beat.
The Expense Of Closing Costs
Remember that closing costs will be somewhere in the 3-5 percent range of the purchase price of a home. Amidst all of your savings, you’ll need to consider this a part of your expenses. Closing costs need to be paid upfront in most cases. You can roll your closing costs into the financing, but it depends on the circumstances. There are no guarantees that the lender will agree to it. Your realtor can also sometimes negotiate for the sellers to pay the closing costs, but in a seller’s market this is quite rare. Be prepared with your closing costs and understand how much you’ll need to spend so that you have an appropriate amount for the downpayment and the other expenses that you’ll incur during the process of buying a home.
The Cost Of Maintaining A House
Many buyers forget about all of the costs that they will need to pay for after they finish buying the house. In addition to a monthly mortgage payment, you’ll need to pay for things like utilities, routine home maintenance, furnishings, and more. If you completely deplete your savings for the purchase of the home, there’s not a whole lot of wiggle room for you to pay for additional needs in the house.
The Cost Of Furnishing And Decorating A Home
You may move into a home with a few pieces that you have previously owned. You could also need a lot of things from a bed to a sofa. All of these items can add up. You may even have to worry about little things like window shades, curtains, lamps, light bulbs, and more.
Home Repairs Can Cost A Pretty Penny
If something needs to be done in your home, the repairs can cost you quite a bit. If you’re not paying attention during the home inspection, you’ll be in for some surprises. That’s why you need a good realtor to help you through the process. A new roof can cost thousands of dollars. New appliances are an expense you should plan for. Other major work that needs to be done around the house can also dip into your savings significantly. As a buyer, you need to be prepared for any of these expected or completely unexpected costs.
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Has your house become someplace that doesn't quite feel like the home you want? Maybe it’s dull or dreary or just not your style anymore? Perhaps you’re on a tight budget, or don’t feel that you have the time to go out and redo your entire space — no worries you don't have to re-design the whole room to freshen it up and breathe life back into it.
Start with a vision
What about your space bothers you or just doesn’t feel like you anymore? Are there certain colors that you would like to see? Or maybe some that you wouldn’t? Determine if the furniture that you have fulfills your needs. If not, this may be the place that you splurge a little since proper functionality is essential to help you enjoy your environment while you are using it. Also, consider if you would benefit from rearranging the current set-up in your space. It may look like it is stuck where it is, especially if it has been there a while, but measure out what you have and see if you have other options. If so, then give them a go. It is a good idea to move the larger things around, even if you don’t think it will remain that way, as this will give you a chance to clean under and around anything that hasn’t been moved recently and may give you new ideas once you see it from a different perspective.
Bring on the accent pieces
Once you have the furniture figured out, the easiest way to change the appearance of a room is with accent pieces. These include throw blankets, accent pillows, bedding, art, lamps, plants, and even candles. Throw pillows are one of the least expensive and easiest places to start. New cushions, or different pillow covers, change both the color and style of your space. If it is the bedroom, then the bedding is a good starting place considering the bed probably takes up most of the room.
Plants are a great way to update your space and also an excellent source of fresh air and, depending on what type you choose, pleasing aroma as well. Art and lamps don’t have to be grand but can significantly impact the appearance of your setting dictating the tone in both style and coloring. Keep in mind the sizes and shapes that enhance the furniture, arrangement, and room where you will be putting each of these.
Once you have determined all of these variable factors and decided where you want to take your décor, the only thing left to do is to shop for the new elements that you have chosen and put them in place. Online, resale shops and your local antique, department or outlet and clearance stores are great places to find the treasure that re-imagines a plain, old space into your own again. Have fun with the process and enjoy your home once more!