our first year of homeownership usually comes with a few financial surprises. Many new owners focus only on the mortgage payment and forget about the other costs of running a home. Creating a “house fund” before you move in is a smart way to manage your cash flow.
First, plan for utility increases, especially if you are moving from an apartment to a larger house. Second, set aside 1% of your home’s value each year for routine maintenance and small repairs. And third, do not forget seasonal costs like lawn care equipment or snow removal tools.
I can help you plan a realistic budget for your new home.
Owning a home involves more than just a monthly mortgage payment.
Being prepared for the extra expenses that come with a property makes the transition from renting much easier. A simple budget for repairs and utilities will help you enjoy your new home without the financial stress.
📞 289-678-1750
📧 alex@alexmortgages.ca
🌐 www.alexmortgage.ca