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The 2 Top Costs of Home Ownership in Arlington, VA, and Elsewhere – Part One of Two

The 2 Top Costs of Home Ownership in Arlington, VA, and Elsewhere – Part One of Two

HI! I hope this finds you well, and staying warm and dry in the weather we have been getting.

I am the excited recipient of great questions from my buyers and I help educate them in the costs of homeownership. This is especially important for first time home buyers, whose specific needs are a specialty of mine to care for. When one has not experienced owning a home, there is just more of a learning curve to knowing a home’s care.

Here are two top categories of costs associated with owning a home: one-time or updating expenses and ongoing expenses. In this post, we will talk about the one-time or updating expenses, and in my post next week, we will talk about the ongoing expense category.

One-time or updating expenses
1. Remodeling / updating. This may be as simple as painting or as in-depth as a front elevation / facade (exterior) of the house re-do. Homeowners can sometime underestimate costs themselves, so it is best to get an estimate from several contractors. Enlist the experts! I recommend that when my clients are thinking of buying a house that needs updating, they talk with a minimum of three contractors and get pricing prior to their purchasing the home. Get something from a professional that is a more solid number than your or someone else’s guesstimate.

Kitchen Appliances can add up in cost

Kitchen Appliances can add up in cost

2. Appliances. They add up in cost quickly. Pay particular attention to two appliances that the general public is usually not aware are considered appliances – the H2O heater and the HVAC. These are the two most costly in the home.

3. Furniture. When you are trading up into more space or perhaps a “nicer” home, you may need more furniture. Depending on the level / quality of the furniture, this can add a lot of cost to your move.

I hope that you found this helpful. I look forward to my post next week to cover the second category – ongoing expenses!

Cheers,
Ken

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