What Can I Afford

As a stager, I see a lot prices shift in the spring when people get happy.

I think a good addition would be a payment widget along with the advice.  I think she sounds like Grandma yelling at me not to spend too much ......

Many first time home buyers are surprised by the costs associated with home ownership.  The wild cards that need to be added to PITI, HOAs, utilities, cable, and Internet, are general maintenance and repairs.

Something many buyers don't consider are the utility and maintenance bills. When buying a home that is 3rd party certified as being energy efficient one might have a good guess as to what their bills might be.  These homes are being built now in the Seattle Area and there are several on the market right now. Not only are they more comfortable to live in, but studies show they have a higher resale value and spend less time on the market when they are resold.

You should look certain "labels" and certifications on the home. If you are curious about what these home look like, where they are located, and more about smartly built homes ready for the ever higher costs of energy, I am always happy to share.

I try to counsel all first time home-buyers about the "little things" that the Landlord took care of that THEY will now have to do.

Great post, yet how many agents educate their clients about the financial management of owning a home before securing a BBA? Only fearless professionals and that's not many, unfortunately.

Those who have always been tenants should know about electricity, heat, and cable bills - but they NEED to know about keeping some money aside for home maintenance and repair. 

We agree, but one item we seldom see on any budget is maintenance.  An annual allowance of 2-4% is what we use.

I agree with some many comments that maintenance and unexpected repairs should be added too.  Thank you for a helpful post!

I agree, people work on such a tight budget today.  I try to educate my clients on what they need to save for reserves, just like a condo association should do.

These are helpful reminders for home buyers that I hope most agents do discuss with their buyer clients.

I try to get my sellers to prepare copies of their last twelve months utility bills so potential buyers can see what they might expect to spend.  And when representing the buyer, I try to have them ask for copies of these bills.  Good idea to budget for maintenance, too, especially if someone is a first time buyer and isn't used to having to pay for that.

I am amazed at how many people have never even thought about a budget.  They are usually shocked to see what their monthly costs are when they are laid out on an excel spread sheet right in front of them.