One Common First-Time Home Buyer Mistake

The most important thing for you to initially prioritize is your finances. Keep in mind that your mortgage and its costs are not the only expenses you should be expecting. There will be other costs associated, such as repairs or maintenance. When it comes to these, there is a 1% rule of thumb that you should typically follow. This means that you should expect to set aside 1% of your homes original purchase price annually. This should cover any maintenance that comes up, though it’s likely you won’t always reach that. Maintenance costs will be in addition to the down payment and closing costs, so be sure you are prepared Thanks to Portia Noel, Premier Mortgage Group, Boulder, CO

Posted on September 13, 2019 at 8:13 pm
Kevin MacInness | Category: Uncategorized

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