When you purchase a home on the Eastern Panhandle, or even as you prepare to buy a property, the costs associated with owning can sometimes be overlooked. It's an exciting time—packing up one home and moving to the next— and without seeing a written breakdown, it's quite easy for homeowners to simply flag the mortgage payment (noting what they'll be paying toward the loan) and move on. But there are more costs associated with owning a home in Harpers Ferry, Charles Town, Ranson, Shepherdstown, Martinsburg, Inwood, Falling Waters or Hedgesville and homebuyers in West Virginia this summer should keep them in mind:
The Cost of Moving
Certainly homebuyers understand what their new home in Jefferson County or Berkeley County will cost them, but what about the costs of physically moving from one home to the next? No matter if you decide to rent a truck and equipment or do the lifting yourself, these costs can add up for a new homeowner. Be sure to keep these figures in mind when you decide how much down payment you can afford— it may be wise to crunch these moving numbers ahead of time to ensure you can actually make it to your new home.
Taxes and Insurance
These two figures are often factored into your mortgage payment, so make sure you know how much you're paying. Many things affect the cost of insurance, like construction materials and location, and this number is not always set in stone. If you're still mulling over purchasing a home in Jefferson County or Berkeley County, plan out the costs of taxes and insurance so you can adequately configure your potential mortgage.
Utilities and Upkeep
Now these are two costs that will not be factored into your Eastern Panhandle home mortgage, so do your research. "Even when you consider household appliances, furniture and landscaping, basic upkeep can be the most expensive aspect of owning a home," says Credit.com. Water, trash, gas, electric and more will also require a monthly payment and depending on your lifestyle, they can get pretty pricey. Take a lay of the land of your potential new home in Harpers Ferry, Charles Town, Ranson, Shepherdstown, Martinsburg, Inwood, Falling Waters or Hedgesville and decide how much in upkeep costs the home will demand.
This summer, it's important to take all precautions before you jump on the busy real estate wave on the Eastern Panhandle. Many homebuyers can be quick to overlook such figures before they make the purchase and find a world of surprises later on. If you have questions about what goes into a home purchase in West Virginia, contact the Kable Team today!
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