Finance Tip of the Day

4 Budgeting Tips for First-Time Home Buyers

  • 2018 31 May
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4 Budgeting Tips for First-Time Home Buyers

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4 Budgeting Tips for First-Time Home Buyers

First-time home buyers may not be fully aware of all the extra expenses that come with purchasing a house, hence, they may have problems budgeting properly. Here are 5 items to take into account as you consider buying a home:

  • Inspection cost (will range from $300 - $400)
  • Closing Cost (Average cost on a $200K loan is $2400)
  • Monthly utility bills (make sure you ask for last 6-12 months records)
  • Maintenance (air-conditioning / heating units, roof, water heater, plumbing, insolation are some of the common issues that new home owners may have to deal with sooner than later)

Today's tip brought to you by Mvelopes and Money4Life Coaching.




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