Cynthia Lanciloti's Blog
If you plan to purchase a house in the foreseeable future, it generally is a good idea to plan ahead for all of your potential homebuying costs. That way, you can secure the funds you need to purchase your dream house.
Now, let's take a look at three costs that every homebuyer needs to consider during the property buying journey.
1. Credit Report
A lender likely will request a verified credit report before it provides you with a mortgage. The fee for a credit report usually is minimal, but it is important to note that this fee adds to the overall cost of purchasing a house.
Oftentimes, a homebuyer can get pre-approved for a mortgage and pay a credit report fee prior to conducting a house search. On the other hand, if a buyer wants to secure financing from a lender after he or she discovers the perfect house, the cost of a credit report may be incorporated into this individual's home closing costs.
2. Home Inspection
A property inspection is crucial, as it ensures a property expert can analyze a house and identify any underlying problems with it before a buyer finalizes his or her home purchase. As such, it is paramount to account for home inspection fees to ensure you have the funds available to hire an inspector who can perform an in-depth evaluation of a house.
The cost of a home inspection varies based on the size of a residence. Meanwhile, there is no need to forgo this evaluation. Because if you ignore a home inspection, you risk encountering costly, time-intensive problems after you buy a residence.
3. Pest or Mold Inspection
A pest or mold inspection is not a requirement if you purchase a new house. Conversely, if you purchase an older residence, it typically is beneficial to inspect it for pests and mold prior to finalizing your house purchase.
Pest or mold inspection costs vary based on a home's size and location. And if you feel a home may be susceptible to pests or mold, you should pay the necessary fees to conduct a pest or mold inspection. Otherwise, you could encounter home pests or mold that may cause major problems down the line.
As you prepare to pursue your dream residence, you may want to hire a real estate agent as well. If you have a real estate agent at your side, you can receive comprehensive guidance as you navigate the homebuying journey.
In addition to teaching you about homebuying costs, a real estate agent is happy to educate you about all aspects of the housing market. Plus, a real estate agent will respond to your homebuying queries and help you make informed decisions as you search for your ideal residence.
When it comes to purchasing a house, it helps to budget accordingly. If you consider the aforementioned homebuying costs, you can craft a homebuying budget and speed up your quest to discover your dream house.
Newton, MA 02460
Rental
$2,200
Price
Watertown, MA 02472
Rental
$1,800
Price
One of the great benefits of having a home of your own is being able to host friends and family. If it’s your first time living in a house that’s big enough for more than just you, you’ll want to make sure you plan out the best way to keep people comfortable before they actually arrive. There are comfort items you can wait to stock up on closer to when folks are actually staying with you, but there are other aspects of hosting that you’ll want to determine in advance.
Sleeping space.
You may be fortunate enough to have an extra bedroom in your home that can simply be a guestroom. If so, great! When furnishing your guest room, you’ll want to design it to have the aesthetics you like, but also functionality for as many hosting situations as possible. When selecting furniture search for something versatile. A queen bed with a pull-out trundle is ideal. This bed allows you to host up to three people in the same room. If there isn’t much space in the room, try a bed with pull-out drawers where you can store extra linens and blankets, or where your guests can store their belongings.
If you don’t have a guest room, think about ways you can make other rooms in your home useful for guests. If you have a home office, you might be able to introduce a couch that doubles as a futon. You can find great daybeds, often with trundle options, that will work as a nice nap space on a regular basis, but that can serve guests when needed. If you’re using your living room or den as a sleeping space for visitors, invest in a durable sofa bed. You may also consider adding fold-out cots or rollup foam mattresses that are easy to store in closets. If you have kids that frequently have friends or cousins over have a couple extra sleeping bags handy so you can make additional sleeping space in your kid’s rooms.
Linens and toiletries.
Second to comfortable sleeping areas, you will want to have plenty of linens and extra toiletries handy for your guests. Have enough towels and bedding on hand for at least the number of people you may commonly have over. When friends and family come to stay, at least one person always forgets some of the basics. A great host will have extra toothbrushes, toothpaste, deodorant (go for travel size!) and soaps available to help someone out in a pinch.
Hosting is so much fun, but being unprepared can add unwanted stress when you’re trying to enjoy time with those you love. Take a few steps to prepare for your guests in advance, so all you have to do when the time comes is worry about food and fun!