09/06/2022
A common mistake when preparing for home ownership is overlooking certain expenses. Lenders factor into your monthly payment many things when preapproving you such as principle, interest, home insurance, property taxes, mortgage insurance, etc. However, there are many other expenses you may not think about when it comes to home ownership vs. renting such as additional utilities like water/sewer and natural gas, repairs to home that your landlord should've typically covered, upkeep for home such as air filters, lawn care and snow removal, HOA/Condo fees.
If you want to purchase a home, make sure you work with a reputable Realtor, Lender and Financial Advisor if you have one. They will make sure you are truly ready for homeownership!