If you're a first-time homebuyer, experts say it's critical to prepare for hidden expenses. Here are three of the costliest ones.
The cost of home repairs and maintenance can also be a hidden expense for first-time homebuyers.
Annual maintenance costs soared to an all-time high during the second quarter of 2023, reaching $6,493, compared with —$5,984 one year prior,While a good home inspector can prepare prospective buyers by sharing the condition of a roof or major systems that typically need replacing at set intervals, many experts recommend extra savings for inevitable expenses.
As a first-time homebuyer, you need to make sure you have a sufficient cushion for surprises — I'd argue 5% of the home's purchase price at least."As a first-time homebuyer, you need to make sure you have a sufficient cushion for surprises — I'd argue 5% of the home's purchase price at least," said Nicole Sullivan, a Libertyville, Illinois-based CFP and co-founder of Prism Planning Partners.
"Be aware that anything that comes up on the home inspection will need to be addressed and could happen sooner rather than later," she added.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
OnePlus’ impressive first tablet just received its first discountIt even comes with a $100 stylus free of charge.
Lire la suite »
After starter leaves with sore knee, bullpen lifts Guardians over first-place Twins 4-2The Cleveland Guardians overcame an early exit from starting pitcher Gavin Williams caused by knee soreness.
Lire la suite »
First Mover Americas: Bitcoin Rallies on Grayscale Court Win Over SECThe latest price moves in crypto markets in context for August 30, 2023.
Lire la suite »
2023 Rivian R1T Dual Motor First Drive: Technically Less, But Still CapableEven with two fewer motors, the dual-motor 2024 Rivian R1T still offers a lot.
Lire la suite »
2023 Rivian R1T Dual Motor First Drive: Technically Less, But Still CapableEven with two fewer motors, the dual-motor 2024 Rivian R1T still offers a lot.
Lire la suite »