Understandably, it is one of the most abiding dreams of millions of people across the globe to have their own homes. Many people put in all the resources they can get into having their dream home. Eventually, they have the home and that is when the reality of the whole thing begins to set in. This piece is going to focus on the things that no one will tell you when it comes to homeownership and the details will be useful for anyone planning on owning a home.
The first whiff of reality that you are soon going to encounter when it comes to homeownership is the sheer scale and cost of the maintenance. From cleaning the home to replacing the fittings to the cost of electricity, gas, water and trash removal; many are often stunned as to how astronomical the prices can be when it comes to owning a home.
Not a few are carried away with the price used in the purchase of the house and they are not aware of how much it will eventually take them to do the running and maintaining of the house itself. When it comes to cleaning, you can always trust Richardson commercial cleaning to handle all your needs.
Another thing about owning a home that is closely related to the maintenance of a home is an unexpected renovation. After you have taken possession of the home that you have had in mind for a long time, you may have to also do renovations that you never even planned for in the first instance.
You may need to replace a wall or overhaul an entire section. This can be shortly after you purchased the house or even after a while when you have started living in the home. For example, you may decide to do a full scale renovation of your kitchen, add an additional floor, turn the basement into an in-law suite, change the design of the lawn or even add a swimming pool in the backyard. All these come with attendant costs.
Expect Buyer’s Remorse
Have it at the back of your mind that there is no way you are not going to experience buyer’s remorse when you have eventually purchased the home. Even the minor challenges that accompany the purchase of a home are enough to stress the life out of you.
Of course, the stress can be worth it if you get a good deal and bargain on the house, but what you should know is that at one point or the other, you are going to experience buyer’s remorse. The house can have damages you did not anticipate of earlier and that can be truly heartbreaking. For example, there could be a burst pipe which causes water damage, or the roof might need to be replaced.
The good thing here is that you need to also realize that you are not alone at all as all other homeowners also feel the same. Luckily, many resources can help homeowners who are going through this difficult but necessary phase when it comes to home acquisition.
It is one thing for you to get the house that you have always wished for, but it is another thing entirely for you to have a clear idea of the future development in the area. If care is not taken, future developments in the area where you have purchased a home can radically change everything for you as far as the home is concerned. To illustrate, you have a home that is located close to a busy road, and then one day all of a sudden, the local authority decides to expand the road and there goes your beautiful home.
Another scenario is one in which you have your home in a serene area and one with a lot of open spaces. But what you do not realize is that all those open spaces may be full of new buildings by developers sooner than you think. Before you know what is going on, your tranquil area has become a noisy construction zone and there is nothing you can do about it.
It is not always easy for you to get information regarding the future development of the area or location where you have purchased your home. However, there are steps that you can take that will still be of help to you. You can take the real estate publications from the city council and read them properly. Another thing you can do is to visit county commissioners and have appointments with the planners so you can have a clear picture of the plans they have in the future for your area or location. This will ensure that you do not get any rude surprise in the future concerning your home.
At this point, you may be wondering what has the resale of your home got to do with the discussion. After all, you bought the home for you to live there for a long time to come. But one of the shocking things in the real estate sector is that if you fail to have a sound knowledge of the future developments of the region, you might be in for a shocker when your neighborhood becomes overcrowded and you choose to sell. Furthermore, your family might expand in the future and you might need more space in a new home.
Hence, you may have to finally sell the house even earlier than you imagined or even planned. If there will be adverse effects on your property, the price of the property can also plunge, and you may end up recording a loss on the house. In other words, it is not always in every case that the value of a home will appreciate after purchase. There are a lot of factors that influence the value of the property and you have to be familiar with everything at every point in time.
It is fascinating to know that as important as schools and other educational facilities are, not many people take them into serious consideration when they are buying their homes. Hence, they end up becoming shocked when they move into their new homes and find out that education in that school district is sub-par.
Even if you just married and you do not have children yet with your spouse, you must take into consideration the presence of schools in your neighborhood when it comes to buying a home. If there are good schools in the area, it can even improve the resale value of the property if you choose to sell later on. Carry out your research diligently concerning schools and determine whether it will be the best for your family or not.
So, as you can see, there is a lot more to owning a home than just buying one. Some people have truly regretted buying a home because they discovered things they never expected or even imagined in the first place. Having a home is a good decision but it is equally very important that you are aware of the rarely discussed but vital issues that surround homeownership.