025. 12 costs buyers should know about

In this episode, i discuss an article from yahoo real estate titled “12 hidden costs to be aware of”. while i don’t believe these costs are hidden, they should be taken into consideration when planning your budget during the home buying process. i keep it simple and short and just name the items. for a complete discussion of each of the 12 items, tune into the reside realtor online radio show, episode 009.

Hello everybody and welcome to another edition of the Reside Daily Bite; I’m your host, David Doucette. Today, I’m going to talk to you about a recent news article that was published in US News last week but I found in Yahoo real estate the other day and the title is “12 Hidden Costs of Homeownership“. It’s an interesting title so I clicked on it and I have to say, I don’t think it should have been called “12 Hidden Costs of Homeownership” because these really are not hidden costs, especially, if you’re working with a knowledgeable and competent realtor -none of these costs should be hidden. So, I do take a little issue of that but it did make me click on the link, so maybe, somehow it worked. But what I did is I recorded today’s podcast of the Reside Realtor Online Radio Show (Reside Real Estate Podcast) about this and I covered each of the 12 in details, so by all means, go check that out at residerealestate.com/podcast and it’s episode 009 and it’s called “12 Costs Buyers Should Be Aware Of”.

What I’m going to do for this day’s daily bite is I’m just going to list the 12 and then, you can listen to do podcast to hear them in more details.

So, the 12 hidden costs of homeownership are: (1) Home inspection; (2) Pest inspection; (3) Appraisal fees; (4) Closing costs; (5) Moving expenses; (6) Furniture; (7) Property taxes and homeowners insurance (and kind of funny order that they put these in because property taxes and homeowners insurance probably should have came before furniture and moving expenses but that is how the article is written); (8) Supplemental insurance; (9) Homeowners association/condo fees; (10) Utilities; (11) Ongoing maintenance; and (12) Repairs. So, those are the 12 issues that a buyer should be aware of. I like everything else in the article other than the title -the hidden costs because again, they shouldn’t be hidden.

By all means, go check out the podcast episode about this because I spend about 30-35 minutes talking about each one of those items in further details.

If you have any comments… 1-800-476-5579 or feedback@residerealestate.com. Thank you so much for tuning in the Reside Daily Bite; my name is David Doucette.

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