The price of the house and the closing costs of your new home are just part of the story. It is very important to keep in mind how much you home will cost you annually for taxes, utilities and upkeep.
The average cost for maintaining your home is between 4 and 6 percent per year of your current home’s market value. Real estate taxes are the main cost to homeowners and can vary from less than one-half percent to more than two percent of their market value.
Insurance cost can be another big annual expenditure and can also vary greatly depending on the region in which you live.
Homeowners must also pay attention to their utility costs, the actual cost for basic electricity, gas and water and the additional that is used to keep your lawn green and your home extra comfortable.
If you buy a large and expensive home, you will need an equally large support fund to help maintain the hose and insure its upkeep. A smaller, more modest home may make your pocketbook happier in the short term and in the long run.
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As always, we hope you Let Us Show You the Fine Art of Austin Real Estate. Let one of our experienced, trained professionals assist you with your next real estate transaction. We’d be honored to be of service. "Friend" us on FaceBook, visit us online at www.FineAustinLiving.com or give us a call at 512.402.9800 today.
