Home Maintenance As a Consideration in Homeownership Cost

When looking for a home to buy, one of the main questions is “What can I afford?”  This is different than the question of  “What size of loan do I qualify for?”  Let’s say that after reviewing your finances you find that you can afford to spend $1200 a month on housing. It is not just the loan payment that is important to consider, but also the property tax, insurance, maintenance, and home improvements. Maintenance: Some of the items that you need to be aware of will include the HVAC system and all of the associated parts including the inside and outside components. This would also include the cooling in the summer and then the switchover of the system to heating in the winter. Other items would include the plumbing and all of the...

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