Of course, it’s nothing like that big chunk of money you paid when you first bought your home. The monthly bills you pay now seem small by comparison… until you start adding them up. When you do, you find yourself daydreaming about lower home costs.
Lower Home Costs?
When money gets tight, you become more aware of the substantial investment it takes to keep your home running month after month. You must pay to keep your home comfortable, safe and well-maintained. No matter how much you daydream about lower home costs, most of those bills will never go away. In fact, they’ll probably increase over time.
How much do you pay?
When you’re feeling the financial squeeze of home ownership, the most important thing you can do is take a look at your costs. If you have a $200,000 home, you probably pay these expenses and more.
- Mortgage $1,513.00 monthly: From Smartasset.com, the cost of a mortgage payment, includes homeowner’s insurance premiums and property taxes
- Utilities $400 monthly: Water, electricity and other energy
- Other Services $300 per month: Phone, internet, and cable service costs vary
- Security $50 monthly: Monitoring service
- Association Fees $100 to $300 monthly: Condominium or community homeowners association fees
- Home repairs $2,000 yearly: From thebalance.com based on 10-year average of annual home repair costs
- Lawn care $100 monthly: Costs of seeds, fertilizer, etc and labor
- Additional Insurance $50: Mortgage, flood, life, etc.
A few ways to lower home costs
If you want to live comfortably, you can’t eliminate most of the expenses on your list. You can still lower home costs by trying a bare-bones approach.
- No cable, internet, security, or optional services
- DIY home repairs and lawn care
- Thermostat low in winter, high in summer
- Water conservation
- Unplug electronics at bedtime
You have other options to lower home costs
At Next Level Home buyers, we designed our Fast & Fair home buying process to give you a different financial option. We buy your house for cash with no closing costs and no delays. Call us at (860) 368-0343 or complete our online contact form for a no obligation home evaluation.
WE BUY HOUSES IN ANY SITUATION:
Behind on Payments
- Death of a loved one
- Liquidating assets
- Inherited property
- Job loss
- Bad mortgage
- Medical Bills
- Extensive repairs