The roof of your house is its crown. It is not just a structural element that adds a character to your property but also reflects on how well you take care of it. There are several elements in addition to extreme weather conditions that impact your roof and ceilings directly every year. Apart from those regular paint jobs that you dread, there is a lot that goes into their upkeep and maintenance. Let’s discover a few tips that help you protect your roof and ceiling without going way out of your budget:
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I recently read an article about a woman who lives in a tiny New York City apartment that is just 90 square feet. Her bed is within a few feet of her ceiling and she doesn’t have room for a kitchen. She’s in a prime location near Central Park and she says she is content with her living conditions. It allows her to spend money on other things besides a huge rent bill.
There is always a trade off, I guess. If you want to live really comfortably but still live in a prime location, you have to expect to pay a lot more. If your goals are to travel, eat out a lot, etc. then you may not be able to afford the luxury of having the best of both worlds and you may need to live in a much smaller place.
My husband and I recently sold our home and beforehand we had had a hard time deciding whether or not we should hire a real estate agent. We knew that we would have to ask for more if we hired an agent, as we would want to recoup the commission costs.
We looked into various options for selling our home privately including using Com-Free and decided that with working full time it just wouldn’t be worth the stress. We decided to hire a professional to do the work for us and hope for the best. We knew it would be so much easier even if it would end up costing us more. Sometimes it’s worth the extra money.
With the prices of homes in this present market, it leaves us contemplating whether or not we can even afford the down payment. Add to it the cost of taxes and home insurance and it can become a very stressful situation. If you are looking to own a house in the future, saving your money today with strategic planning can prepare you for the down payment in the timeline you choose. Before resorting to withdrawing money from your retirement savings or 401K, consider other options first.
The amount of your down payment will affect your savings plan. Before the housing crisis of 2008, lenders were granting mortgages without down payments. Today, very few if any banks will take that risk, even if your credit is superior. Calculate 20% of the home sale price to be safe and prepared. Don’t forget to include closing costs and miscellaneous expenses. You may be able to put down less money; however, any number below 20% of the sale price and you will need to purchase PMI (private mortgage insurance). This insurance protects the lender should you default on the loan. It is wise from a financial standpoint to put down the 20% and pass up the PMI. PMI adds unnecessary costs to your mortgage.
When you move from an apartment into a house for the first time, you may be surprised by all of the extra costs associated with owning a home. Rent often includes some or all utilities but once you live in your own house you are stuck paying for everything! When my husband and I first moved from our apartment into our house, we discovered that our living expenses increased significantly. Water bills, natural gas bills, and property taxes weren’t even a part of our vocabulary. But that all changed when we bought our house.
If you are hoping to buy your first home, I would recommend that you first sit down and create a tentative budget for your living costs at your prospective new home. Find out how much the previous owners paid for their utilities so you can get a rough idea of how much to budget for.
Also, remember that you will have to pay closing costs, legal fees, and other bank fees in order to process your home purchase. Be sure to find out how much these will cost so you won’t be surprised at the last minute. It’s smart to spend less than you can “afford” on your house so you will have adequate funds to pay all of the fees, as well as to pay for the extra things you will need to buy that you never needed while you rented an apartment.
For example, much to the chagrin of our neighbors, we didn’t have a lawnmower or any garden tools or supplies when we first moved in, so our yard was a mess for a while until we had a chance to pick everything up. Fortunately a friend of ours wanted to get rid of his old lawnmower so we didn’t have to buy one, but purchasing household items can certainly add up.
Owning your own home is great, but make sure to plan ahead to ensure that you can truly afford to live in it once you’ve purchased it. Don’t feel like you have to furnish your entire house right away, either. Do it bit by bit as you can afford it. You will enjoy your new home more if you aren’t faced with financial pressure. Make wise decisions that you won’t live to regret.