Whether you’re buying a Port Royal condo or a house in El Pescador, you’re going to have expenses associated with home ownership that you may not have had as a renter—and if you’re a first-time homebuyer, you’ll need to account for them so you don’t get in over your head.
Common Expenses Associated With Home Ownership
Most people look at what their monthly mortage payment will be and figure that owning is cheaper than renting—and in many cases, it truly is.
But there are a few other things you need to account for, including:
- Higher utility bills
- Homeowners association dues
- Mortgage insurance premiums
- Property insurance
“Keep in mind property taxes and insurance have a tendency of going up every year,” says attorney Rafael Castellanos, president of Expert Title Insurance in New York. “Even if you can afford it now, ask yourself if you’ll be able to afford the increased costs later.”
Are You Buying a Home in Port Aransas?
If you’re looking for a home in the beautiful city of Port Aransas, we’d love to help you.
Call us at 361-563-7788 or get in touch with us online to tell us what you want from your next home. We’ll begin searching right away.
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