Use this first tuesday FARM Letter in your marketing. To request a FARM letter topic, or to see a list of all our FARM letter templates, visit our FARM Letter page.
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Congratulations on your new home! Here are some budgeting expenses to keep in mind as you settle in.
- Property taxes. Although you can write them off on your annual tax returns, you still need to be prepared to pay your local property taxes each year.
- Repairs and maintenance. Home maintenance can cost up to $500 a month. Set aside extra funds for roof repair, plumbing and other upkeep tasks.
- Pest control. Unexpected visitors can invade your home without notice. Keep enough in your savings to cover the costs of termite inspections, insecticide treatments and other pest control expenses.
- Landscaping. Part of loving your home is taking care of its yard. Be sure to keep some change in your budget for landscaping expenses, like extra water use and fertilizer.
- Utilities. Factor into your budget the costs of water, cable and internet, heating, air conditioning, electricity and other services.
- Mortgage payments. If you took out a mortgage, you’ll have monthly principal, interest and mortgage insurance costs. Establish and set aside a designated amount each month to stay current on your mortgage payments. Bonus: You may be able to deduct your paid interest and insurance from your taxes!
- HOA fees. If you’re part of a homeowners’ association (HOA), you’ll owe a monthly membership fee anywhere from $100 – $300.
- Home insurance. Include any homeowners insurance you obtain in your monthly budget.
Is a friend or family member ready for a new home? Contact me today to set up an appointment!
