Bottom line is, it depends on your job, your lifestyle and your financial situation.
Let’s go a step further and say a lender will finance the house you want.
Next step would be to have it inspected to make sure you minimize the risk of unpleasant surprises.
The home inspection report points out the issues you should correct
and you also receive some information about necessary maintenance work. Based on this information you can get an estimate for
repair and/or replacement costs. Let the experts help you.
At this point most buyers drop the ball, because it’s not easy to figure all this out.
You should ask the seller for a copy of the utility bills for the last 12 months.
In addition - look at your home inspection report. Usually it gives you information whether the house is well insulated and if the heating and cooling equipment is outdated or very efficient.
A high efficient heating and cooling equipment and sufficient insulated house can save up to 50% on utility costs.
Of course, what makes more sense – invest in insulation and new heating equipment, more efficient appliances or pay higher utility bills? The answer is clear, looking at it over a longer period of time of several years you should invest instead of just paying. If you have any doubt about what the best approach might be, have an energy audit done for your dream home. Keep in mind, just because you have really low utility costs right now doesn’t mean it’ll be the same in the new house.
Now you can figure out how much your dream home will
actually cost you.
If you need help, ask your Real Estate expert.
Hi - this is Werner with Home Inspection Tennessee