OK, we’ve said it time and again, but it bears repeating: Buying a home is a very big expense—and once you’ve kicked off all that spending, it’s easy to find yourself caught up in rampant lifestyle inflation. After all, you’ve got an enormous, shiny new house just waiting to be filled with all sorts of nice stuff, right?
Homeownership comes with its fair share of unique costs—property taxes and urgent repairs and energy bills, oh my. There’s no need to add to their cost by shelling out for unnecessary expenses. Here are six major cash outlays that buyers can avoid.
Too much house
This one requires some thought before you actually nail the deal: How much house do you really need? Just because you’re pre-approved for a hefty purchase price doesn’t mean you should go as big as you can.
Fixing up your outdoor space ASAP
Once you close on your home and move in, you might be itching to host your first late-season barbecue. Or maybe you’ve been dreaming about a koi pond, like, forever. But hold on: Updating your outdoor space shouldn’t be your first priority, especially if you’re tight on cash. Unlike couches and beds, which are essential to a functioning house, landscaping and decor can be put on pause.
Old, outdated insurance
Still using the same company that offered you renters insurance seven years ago? It might be time for a change. Shop around.
If you’re moving from an apartment, chances are good you’re astounded by how much space you have. There’s another bedroom and a dining room and … yet another bedroom!
Don’t feel like you have to fill it all at once. Give yourself—and your home—time for personality to emerge.
Having your own yard is definitely exciting, and while it’s important to keep it healthy and watered, you don’t need to go overboard. Resist the pressure to hire additional help for your yard—even if you’ve lucked into an HOA that covers it.
Info from http://www.realtor.com/advice/buy/six-things-new-homeowners-waste-money-on/?cid=soc_editorial62121406&adbid=10154308415307871&adbpl=fb&adbpr=35368227870