The Hidden Costs of Being a Home Owner

Becoming a home owner isn’t something that comes cheap. After dealing with all the expenses of buying a house, you need to consider the every other payment that comes after you’ve signed the papers. Many people are rather naive when it comes to the costs of owning a house. Maintenance bills can unexpectedly rise high  and there will be no landlord to fix them for you. To help you be more prepared about the hidden expenses involved in being a home owner, Schutt Law- Title Insurance Agency brings you this post.

Renovations

You are bound to want to make changes to the house you just acquired, even if they’re small ones. It’s impossible to find the perfect house that perfectly shows off your taste. Renovations are extra expenses you’ll have to think about. A paint job, new shutters, a modern kitchen…renovations can be expensive.

Maintenance

Maintaining a home is a full time job. There’s no landlord to call, the job is on you. There are tons of unexpected maintenance costs that you can’t even consider them all.  Some of the most typical things to consider are: fixing leaks, repairing the roof, cleaning the gutters, resealing the driveway, repairing appliances, plumbing problems, maintaining the air conditioning system, cleaning or replacing the carpets…and those are only a few of the problems that can happen in a house. A big part of your budget will be going into maintenance, and it’s a fact.

Insurance

Insurance should definitely be considered into your budget. There are a lot of factors to consider when talking about insurance. Things like how old the house is, in what area it’s located, the size of the place, and many others are considered by insurance companies. Your rate can be raised by the insurance company if your credit score looks “risky”. Also, living in an area prone to natural disasters like: floods, earthquakes, tsunamis, or volcanoes present an extra payment for hazard insurance. It may seem expensive, but it’s better to be protected. Another insurance expense is getting title insurance. Fortunately title insurance is a one-time premium payment for a lifetime of protection. Title insurance protects your title against many unexpected liens. You can learn more about what protection title insurance provides by talking to the people at Schutt Law-Title Insurance Agency in Fort Myers at (239) 540-7007. Insurance is something you won’t regret paying for.

Lawn and Backyard

If you’re moving from an apartment to a house with a yard and front lawn, you’ll be shocked to find how much maintenance they require. You’re going to need the tools to mow the lawn, or you’ll have to hire someone to do it for you. If you decide to forgo plants in your yard and choose to decorate with stones, you need to buy them too.

Cleaning

Cleaning a house is more expensive than cleaning an apartment. While you probably already have cleaning supplies, now you’ll probably look into doubling the amount. Having extra brooms and mops, and maybe even a second vacuum is a good idea. If you’re constantly out working and you don’t have the time or the energy to clean the house, perhaps hiring a cleaning person could be a good idea. Hiring someone can add up to over $1,000 in a single year.

DIY Disasters

It might be a silly thing to consider, but sometimes in our quest for saving money we try to do things on our own and end up making a mess. How hard can it be to lay down your own flooring or knock down a wall? Well, if you’re not an expert and don’t really know a thing about what you’re trying to achieve, you can actually end up spending more. Eventually you’re going to need to call someone in to fix things up, you’re going to need to purchase the materials again too. Save yourself the drama and hire someone without experimenting on your own first.

Safety

You want to keep your family and possessions safe. Chances are you’ll look into installing an alarm system. If you have children you’ll need to child-proof the house. Maybe you’ll install motion-detector lights or a lighted footpath on your home’s exterior. All those extra safety feature cost you extra.

Buyer Demands

There’s no question that you need to keep up with your home maintenance. Even more so if you plan on selling the house in the future. Potential buyers will be looking into any possible flaw that needs fixing, and they’ll probably hire an inspector to go further into the exploration. The buyers will have demands. You’ll already have a great list of expenses before selling your house, you don’t want to have to pay more or lose money on your property because you have to repair things you neglected before.

 Get Your Title Insurance in Fort Myers, FL

You can cross off title insurance from your list when you call Schutt Law-Title Insurance Agency. Once you make your unique payment you and your heirs will be enjoying title protection for as long as you remain the owners. You can call them at (239) 540-7007 to get your title insurance process in Fort Myers started.