Once you make the decision that you are ready to become a homeowner, you go through the exciting process of figuring out what type of home you like. You also grow through the not-so-exciting process of figuring out how much home you can afford. When you are trying to figure out your maximum home purchase price, make sure you factor in these often-overlooked line items.
- Your Values: You might not think about certain places you spend money because you see them both as crucial and as a reflection of your values. That does not mean that you can just leave these expenses out of your budget, though. Make sure you factor in costs like charitable giving, wellness treatments your insurance does not cover (e.g. acupuncture, massage), expenses for aging family members for whom you care, and religious tithes when budgeting for real estate.
- Your Fun Money: Because you do not get a getaway every month, it is not uncommon for people to forget this cost when making their monthly budget. Make sure that any vacations, conferences, retreats, seminars, or other once-in-a-while expenses that enrich your life fit in with your home buying budget.
- Your Kids: Sure, you have the kids’ clothing, food, and education costs worked into your budget. Just make sure you also include expenses like summer camps, extracurricular activities, and equipment needed for interest (e.g. soccer cleats, violin).
After all of the work that you have put in to get the right house at the right price, you deserve to have someone help with your closing process. That is why you should contact Brighton Escrow. Serving Hermosa Beach and the surrounding California area, we offer excellent escrow services paired with superior service. So you do not face any hiccups when closing escrow, call us today!