Other Costs to Consider

The costs associated with buying a new home extend well beyond the purchase price of your property, and overlooking these expenses can put a real damper on your home purchase experience.

As you seek to determine how much home you can afford, don't overlook the inevitability of the utility bills. Especially nowadays, when the utility industries are in flux and transition, it's best to err on the side of caution when estimating your utility expenses.

Contact your providers of each utility — natural gas, electricity, water & sewer, telephone — to inquire about rates, average monthly rates, payment plans, and the like.

As you fiddle with numbers, be sure to include the following expenses in your equation:

• Property taxes (inquire with your financial institution or the City’s TIPP program about monthly payment plans)
• Moving costs (professional movers or truck rental, and boxes)
• Landscaping
• Furniture (especially if you're moving into your new two-storey from a one-bedroom apartment)

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