Many people think buying a home is mostly about affording the mortgage payment, but your monthly mortgage only PART of the story. The truth is that every home comes with ongoing maintenance, repairs, and replacement costs that can catch homeowners completely off guard.
Buying a new construction home is not in the cards for every homebuyer–some people crave “character,” other people are shopping in specific neighborhoods where new builds are not an option, and some people simply can’t afford brand new. In this video, I talk about the “hidden costs” of owning a home (especially one with a little age under its belt), including major expenses like roofs, HVAC systems, water heaters, plumbing, foundations, electrical systems, and more. Even new homes can surprise you with unexpected expenses. You’ll learn why experts recommend setting aside a certain ratio of your home’s value each year for maintenance and repairs. How much? Watch the video to find out!
🩷 If you’d like to talk with me about BUYING or SELLING real estate in the greater Iowa City or Cedar Rapids areas, feel free to call/text 319-594-4455 or email me at Emily@EmilyFarber.com
I’d love to talk with you!
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