Most people are aware that there’s more to buying a house than determining if you can afford the purchase price. The entire home buying process can take several months and even those who are able to get things done expeditiously won’t be able to buy a house, close on it, and then move in in less than 60 or so days.
First, use a home sale calculator to check the prices you will be paying on a mortgage for a residential property. You’ll need to know the distance between your new home and where you live now so you can figure out whether you’ll be hiring professional movers or renting a moving truck. If your new home is going to have extra rooms, you should also budget for furnishings, new decor, and appliances.
The Real Cost of Relocating into a Newly Purchased Home
After you buy a house, you’ve got to transport all your stuff there. If you happen to move from your parent’s house to a multi-bedroom home, you might be able to make the move in a single car trip. For everyone else, professional movers or a box rental truck will be necessary. Moves that are less than 100 miles in round trip can usually be completed in no longer than a day. Out of state moves will require you to rent a truck for several days or spend more on professional movers. Also, be prepared to pay for the setup and activation of utilities such as electricity and cable television.
How Much New Furniture Do You Need?
There’s no point in buying a new home if you aren’t going to be able to decorate and furnish it to your precise tastes. A lot of new homebuyers don’t even want to bring their old furniture with them. Usually, they’ll set up furniture deliveries to occur just after they take possession of their new homes. Although you’ll need to have several thousand extra dollars to furnish an entire home, if you have a modest budget, you can also re-upholster some items that you have already if you want something that looks new.
Will You Pay More for Your New Home Than Just Mortgage Payments?
After you’ve been in your house for a couple of months, you might suddenly want to get rid of your master bedroom furniture. Some homeowners change the colors of their home’s walls several times because they’re trying to attain a certain look. Then there are landscaping costs, general maintenance, and repairs that can come up quite unexpectedly. There are multiple other expenses that homeowners will need to pay to keep their homes comfortable and in good repair.
Live in your home for at least a year so that you can calculate what it is going to cost in maintenance. Then you may build up a practical budget for remodeling and new furnishings. Staying in your home for a year and making payments on time will also help in accumulating equity, so you can always borrow against your home loan if you want to purchase new furnishings that you have had your eye on for the last year.