Buyers focus on the mortgage but it doesn’t tell you the true cost of home ownership. With your first home, you compare your mortgage payment to the rent you’ve been paying but wait, what expenses were included in your rent?
Without first hand experience, most homeowners have no idea what is a home warranty. They often confuse a home warranty policy with homeowners insurance. These two homeowner finance options are quite different even though you renew and pay both annually. Homeowner insurance pays for damage and loss due to covered perils like a fire, hail storm or ice … Read More
When you buy a house, you spend lots of time on paperwork to get a mortgage. Lots of people are involved, all with a vested interest getting to the closing as that’s when they get paid – the real estate agent, loan officer, title company and more. The roles leading up to the closing are well understood. Even better, the … Read More
Buying your first house is an exciting step. It can also be scary so you’ll want to do your homework, and prepare so you can remain in control versus getting overwhelmed. Remember there’s no landlord to call. You have to handle repairs and that takes time and money. Home ownership means taking on new responsibilities. Have … Read More
Home affordability means more than just whether you can make the monthly mortgage payments. There are many factors that you need to think about, and some of those things can change in time. Part of it is strategy, and part of it is simply making the best plans with the information you’ve got. If you … Read More
Good financial planning begins long before you buy your first home. But it’s never too late, even if you’ve owned your home for years. A homeowner budget keeps you on track so you can afford your daily routine and your future responsibilities, and it also help you work toward a comfortable retirement. Budgeting is more … Read More
You probably became familiar with budgeting long before you thought about buying a house or condo. Keeping your credit straight was part of the path that brought you to home ownership in the first place. But a homeowner budget has a few categories that are different from what you might be used to. New homeowners … Read More
Planning is a key part of maintaining your home, although it’s a lot harder than creating a grocery budget or setting aside money for car maintenance. Most homeowners aren’t familiar with key home components and how often they need to be replaced so we’ve assembled a list to help you plan (interior replacement timeline). A … Read More