Costs you are Forgetting when Buying a New House


You’ve set aside $1,000,000 to pay for your house. Suddenly, all the numbers don’t seem to add up. Why is this so? Well, do you know that there are many more cost components to owning, and most importantly maintaining a house?

  1. Renovation

Here’s something you never thought you would spend that much on. Whether is it hacking, carpentry, ceilings, partitions for your living room, rooms, toilets or kitchens, these numbers definitely add up. Not to mention, the cost of electrical wiring, painting and the installation of windows and lights add up to a hefty sum too. It is important that you set aside a budget for renovation costs too if you do not want the sums to add up and shock you.

  1. Maintenance

It is not very likely that your house is going to be in the same condition as it was when you first moved in 5 years down the road. Paint will be scrapped, the floor may become mouldy and the roof may leak. Well, obviously, to restore your house back to its original state is going to cost money so set aside some money for these likely restoration works.

  1. Furniture

Walk out of designer furniture shops and into IKEA if you’re on a budget. Fixing the bed up or a chair is not as tough as you think it is. More importantly, the low price point of these furniture do not translate to lower quality as DIY furniture can too, last.

  1. Mortgage

Got a loan and sticking to it for the next 20 years? Think again. Not refinancing your loan may be just what is costing you hundreds of dollars more every month. Contact Us to see how you can save up to thousands of dollars and you might just be able to use the savings for the maintenance of your house or to buy new furniture!