4 Major Expenses of a New Home Purchase.

love-at-home-cYou have decided now is the time to jump into the real estate market in Naples Florida.  That is a great decision as the market is improving and prices are rising.  However, there are some major one time expenses that you should consider when budgeting the costs of moving from that rental home to a home of your own.


Probably the home you are purchasing already has most of the appliances you need.  But, if you are buying a short sale or foreclosure, you may need to buy all or some of the major appliances.  This is a one time purchase but it will be necessary as soon as you close on your new home.  Also, don’t forget to check the age of the air conditioning system and water heater.  A home warranty contract might be the answer to save you considerable money during the first year.


If you are moving from a small apartment into a 3 bedroom home you may not have enough furniture for all the rooms.  Most first time buyers will use the furniture they have and add as they can afford it, but the new furniture still needs to be considered in the ongoing budget.


There are often things that you want to change about your new home.  From simple painting and cleaning to full remodeling of kitchen and bathrooms.  Can you live with the way things are for now or do you need immediate remodeling?  It is always best to get an estimate from a licensed contractor before planning a budget.

Closing costs

These are always that mysterious figure that everyone talks and worries about when looking to purchase a home.  What are my closing costs?  They can add up quickly especially if you are getting an FHA or USDA mortgage.  Remember, you have to pay one years taxes and insurance up front to the mortgage company so they can escrow the money and make your payments for you.  That can add a lot to the bottom line.  It is always a good idea to ask your title company for an estimated closing statement so you know what to expect on closing day.

All of these items are expensive but not meant to scare you away from home ownership.  It is always important when making a major purchase, and there is not much more major than a home, to discuss your options with a professional before starting the process.  Contact me or call me at 239-601-3174 and ask all the questions you have before starting your search for a new home.  That way there are no surprises and perhaps disappointments when you finally move into that new home.

Remember, it is always toasty in Naples and you deserve your piece of Naples Florida sunshine!

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