Wednesday, July 18, 2012

8 Additional Costs To Be Aware of Before Buying Your Deep Creek Lake Home!

Buying a Deep Creek Lake home is an exciting time as you dream of what your home will look like and the great memories you’ll build in the home!  Whether you’re buying a vacation home or permanent property, the home buying process can seem like a long process as you anticipate spending time on Deep Creek Lake, but it’s worth taking your time to ensure you’re fully satisfied with the home you choose.

One of the things that can be easy to forget in the midst of searching for the right home at the right price are the additional expenses that come with buying a home.  Those who’ve been through the home buying process are familiar with the costs entailed, but it’s good to be reminded that these additional costs will come up whether you’re buying a permanent residence or vacation property.  Take a look!

1. Home Inspection- It is a great idea to hire a professional to inspect a home before you purchase as they can bring your attention to any major or long term issues.  

2. Pest Inspection- Buyers should consider having the wood of the home inspected for termites or other wood-destroying bugs. Although this is an additional expense, it  can save your home from further damage and larger costs.

3. Appraisal Fees- Before a purchase, your home must be inspected by a professional real estate appraiser as this helps lenders determine the amount of money to lend borrowers.

4. Closing Costs- At the final closing meeting in which you sign all documents, you should be prepared to pay closing costs which can be a few thousand dollars. These fees include processing fees, underwriting fees, recording, survey and title insurance fees. Many buyers roll these fees into their offer on the home and can be discussed with the seller and the participating agents.

5. Moving Expenses- Unless you are moving down the street, you will have to be prepared for moving expenses such as renting movers, a moving truck, and any possible shipping costs depending on how far you are moving.

6. Furniture- You may come to realize that in buying a bigger home or a second home, you’ll need to buy more furniture.  While this is an understood expense, it’s one that can be costly and will need to be factored in to buying a home.
7. Utilities- These costs vary from city to city so it’s always good to expect to see a difference in monthly bills when buying a home on Deep Creek Lake.

8. Ongoing maintenance- You may love the thought of a large backyard, but keeping in mind the cost of maintaining your yard or garden. If you are buying a vacation home on Deep Creek Lake, you’ll have to consider buying a second set of tools and equipment for your home.

While you may have already been aware of these hidden costs, it can be easy to push them aside when you’re excited about a home on Deep Creek Lake you’ve fallen in love with.  As Deep Creek Lake Real Estate agents here at Coldwell Banker Deep Creek Realty, we encourage you to take the time to realistically think through these additional costs to ensure you’re 100% prepared for buying your dream home!

Of course, our team of experienced Deep Creek Lake Real Estate agents are here to help answer any questions you have and to guide you through the entire home buying process!

Please feel free to contact us today to begin your Deep Creek Lake home search!

Patrick Kane
Sales Manager/Co-Owner
Coldwell Banker Deep Creek Realty
Your Deep Creek Lake Real Estate Expert

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