Post-Closing Budget Areas to Consider for Homebuyers, Part 2
by EM Admin
on Tuesday, February 11th, 2020 at 7:04am.
In part one of this two-part blog series, we went over several of the most important post-closing costs to consider if you’ve purchased a new home. Closing costs themselves represent a significant part of the homebuying and mortgage process, but there are also some basic living and future areas to consider as you budget for this period.
At Eagle Mountain Living, we’ve happily helped numerous clients not only buy a home in Eagle Mountain, but also understand the full range of potential costs that may come along with their choice. In today’s part two, we’ll go over a few additional areas where you should consider budgeting for your move and other parts of your new home life.
When preparing to move out of their old home, many individuals and families make the prudent decision to run their food stores low before the moving date. They try to schedule their meals so they’ll consume much of the food in their pantries, fridges and freezers before they move, limiting the cost and hassle of attempting to move all these items to the new home.
If you’re among this group, you’ve likely considered the back end of this proposition: You have to restock your food reserves once you move into the new home, and this will come with a moderate cost. Some new homeowners choose to do this little by little, eating a few meals out here and there while they rebuild their food stores. Assign top priority to the most necessary items as you perform this task.
Window Treatment Considerations
If your new home did not come with existing window treatments, such as curtains, shades, blinds and shutters, you should consider investing in some right away. The same goes for homes with poorly functioning window treatments.
The reason this area is important to budget for: It will actually save you money on HVAC and other home costs, in addition to providing proper privacy. Window treatments have a big impact on areas like natural light and others related to how hard your HVAC system works.
Finally, there are a few other expenses to consider here:
Furnishing: Depending on how much furniture you’re bringing over from your old home, you may need to invest in some new furnishings for certain areas of the new space.
Appliances: The first year of new homeownership often involves a bit of extra spending on appliances, whether it’s to fix existing issues or replace certain appliances with modern options.
Repairs or other alterations: This is another area where the first year of homeownership tends to come with slightly higher costs.
For more on the kinds of post-closing expenses you should prepare for when moving into a new home, or to learn about any of our homes for sale or realtor services, speak to the staff at Eagle Mountain Living today.