Maggie Asks…I Think I’m Ready For Homeownership But I Don’t Know All The Things I Should Consider. Can You help?

YES!

When you are ready to make the leap from renting to buying, and have already determined what you can afford for the mortgage payment, taxes and insurance then you are ready to consider the other costs that might be involved in owning your own home. Being prepared is your best way to avoid surprises!

Home Maintenance

Ignoring small problems or putting off their repair can lead to much larger and more expensive repairs down the road.  So be prepared set aside a minimum of 1% of its value each year for repairs and maintenance… maybe more depending on the age and current condition when you buy it.

Supplemental Insurance

If you live in an area prone to tornados, floods or hurricanes, these perils are generally not covered under your basic home owners policy, and you should purchase supplemental insurance to cover your risk.  Also, if you have a large collection of antiques, valuable jewelry or lots of computer equipment, you may need to purchase an insurance rider on your home owners policy to cover these items in full.

Home Improvements

You may want to do some small projects that you can pay for as you go such as window treatments, appliances, lighting fixtures, rugs, or a number of other items.  If you want to do bigger projects get a quote from a professional and figure out your budget and what ites you can do yourself to save some money.

Furniture

If you are moving into a bigger place than you have now – consider you will want new furniture to go into your new place. That can add up fast – consider the financing choices you have or better yet have a garage sale of your old stuff and pay cash for anything new.

Otherwise you may find yourself in your dream home – hanging sheets over your windows for privacy while you eat dinner off of paper plates sitting on the floor in your empty dining room.

Meet Cheryl!

About Cheryl

As a successful business owner and community leader, Cheryl Braunschweiger is known and respected for getting things done with a degree of skill and enthusiasm that bring out the best in those around her - colleagues, clients and friends. The name of her business, ALMC Mortgage, reflects Cheryl's philosophy and personality. She says it stands for All Loans Must Close –a reflection of her determination to do whatever it takes to serve her clients. Cheryl has been in the mortgage lending business for 20 years. Read More About Cheryl
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