First-Time Buyer Costs

firsttimebuyersBuying a new home can be a huge, complex undertaking, especially when it’s your first time. That’s why it’s important to have an experienced real estate agent guiding you along the way.

The biggest mistake new buyers can make is underestimating the costs of buying a house and maintaining it over time. Many experts agree that homeowners should have 1%-3% of their homes’ purchase price in savings for improvements and surprise expenses. It’s wise to have at least six mortgage payments in the bank after a closing. These estimates may not work for everyone, but if you are spending above your means on a new home, you may quickly find yourself in financial trouble.

Inspections are important for the first-time buyer, as they list repairs that will be needed for the home. A buyer should put together a short-term and long-term plan based on the inspection so they know how much money they will need in the months and years ahead.

Renters are accustomed to paying basic utilities. Homeowners, on the other hand, must also pay for water, sewer and trash collection—as well as property taxes, homeowner’s insurance, homeowner’s association dues, yard care, snow removal and other expenses unique to your location.

Buying a home is one of the largest investments you’ll make. Your real estate agent will help each step of the way, first helping you establish a realistic price point for your home purchase and a clear understanding of your monthly expenses.

For more home tips, follow us on Facebook. Looking for a new home in the Kansas City area? Visit us at BHHSKCRealty.com!

5 Housewarming Gift Ideas

We’ve all done it. Peek out the window to see who the new neighbor is as the giant moving truck rolls up. And then talking about how much work it is to move and that you’re glad it’s not you!

After you’re done spying, how about giving the new neighbor a little housewarming gift! This also gives you a great opportunity to introduce yourself and give them a proper welcome to the neighborhood.

Check out these 5 Housewarming Gift Ideas:

1. Ready to Bake Cookie Dough Rolls: After a long day of unpacking boxes, the smell of freshly baked cookies would surly relax anyone and make their house feel like a home! Or, you could take over already baked goodies or even a full meal.

Source: SouthernLiving.com

Source: SouthernLiving.com

2. Bucket Full of Must Haves: Gather up some of your favorite household items and place in a bucket or basket. Maybe even include some of your favorite local service providers if you know they are new to the area!

Source: MarthaStewart.com

Source: MarthaStewart.com

3. Custom Stamp or Address Labels with the New Address: New address labels often go to the bottom of the list of things to do when moving, but it can be the most fun. With Etsy and so many online companies the options are endless! This might require a little pre-planning, but would surely break the ice with your new neighbor.

Source: Etsy

Source: Etsy

4. Organize a Block Party: Maybe the best way for you and your fellow neighbors to welcome someone new is by throwing a party! I mean, who doesn’t love a good party! Click here for step-by-step party planning.

Source: Lowes.com

Source: Lowes.com

5. Showcase Their New Address: New walls call for new art work and why not highlight their new address. Etsy has a lot of different options like the one below, but you could even make your own!

Source: Etsy.com

Source: Etsy.com

For more housewarming ideas, visit our Won’t you be my neighbor? Pinterest board.