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Before buying your first home, brace yourself for these extra costs

Started by stevejhx
about 16 years ago
Posts: 12656
Member since: Feb 2008
Discussion about
Homeowners should have 1% of the purchase price of their home in savings for improvements and surprise expenses, he said. "That is the absolute minimum. It's better to have 2% to 3% socked away somewhere." http://www.marketwatch.com/story/before-buying-first-home-brace-yourself-for-costs-2009-12-28 Hmm. 2% on top of about 15% transaction costs.... All of it worth it according to LICC who, breaking with fundamental economic theory, believes that home ownership - which is riskier - should cost MORE than renting - which is less risky. HAHAHAHAHA!
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