When buying a home, it’s easy to focus solely on the purchase price—but your monthly carrying costs are just as important, if not more so, when it comes to affordability.
Here are key monthly expenses every buyer should factor into their budget:
- Mortgage Payment: Based on your loan amount, interest rate, and loan term.
- Real Estate Taxes: These vary by town and can significantly impact your monthly costs.
- Homeowners Insurance: Required by lenders and important for peace of mind.
- Maintenance or HOA Fees: Especially common in condos, co-ops, and some townhouse communities.
These costs can make a big difference in your buying power and should always be considered early in the process. A home within your price range on paper may exceed your comfort zone once monthly expenses are added up.
Buying smart means budgeting smart.
Need help breaking down these numbers or planning your next move? Reach out to Amie Pisano for expert guidance on home buying, selling, and navigating the Westchester market.
📧 Email: [email protected]
📞 Phone: 914-715-2632
