If you're an experienced homeowner you probably come with a lot of knowledge about buying a home and what happens after you move in.
You know stuff like NO MAJOR PURCHASES until AFTER closing. That new car or kitchen appliance set could be enough to push the debt ratios just far enough out of whack to give your loan officer heart palpitations.
And since you're already a homeowner you probably have all the major paraphernalia that comes with owning a home. You know to expect a few extra expenses when you move in, things like new curtains and making a few quick spiffs of the home BEFORE all the furniture is moved in.
But if you're a new homeowner-to-be, there might be some surprise demands on your cash.
You're probably ready for the basics like HOA fees and utility deposits, but there's a lot that comes with owning a home and some of it might be a surprise, since it's far different than being a tenant.
First, stuff breaks and when it does, it's your baby.
Appliances stop working. The furnace has an issue. The water heater leaks. It's all part of homeownership. Have a cash reserve so you're ready.
Second, you're going to need stuff, or you're going to have to pay someone who has the tools you don't have (unless you've got a REALLY good friend to help!). When that tree falls across the driveway, can you clear it? You'll want some basic handtools at a minimum.
Consider the four seasons. Got a snow shovel? Yard rake? Water hoses? Are you going to garden?
Third, you're probably going to want to make some changes. Very few homes are truly move-in ready. Chances are you're going to want to do some painting, or change some flooring. Do you need a fence for the dog?
Basically, be prepared. Whatever cash stash you think you need? Go a bit higher and you'll be a much happier homeowner because you'll be prepared.
Give us a call at 513-520-5305 or email Liz@LizSpear.com and we can discuss how we can best help you.
We look forward to hearing from you!
Bill of Bill & Liz aka BLiz