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He says buying a
home in the U.S. entails several unplanned expenses, including financing costs, utility payments,
home insurance, condo and homeowners» association fees, golf or athletic community membership, pool maintenance, sprinkler maintenance fees, tree trimming fees, the costs of furnishing and
remodeling the
home, and buying an
additional car.
-- > If you do plan on renovating you will need to take into consideration not just the
remodel costs, but
additional costs to bring your
home up to current building codes.
If however, you are taking out the money to do a
remodel to your kitchen a
home equity line of credit may be a wiser choice because you never know what
additional expenses may come to light.
Extensively
remodeled two bedroom, two bathroom Venice
home with
additional oversized garage / studio.
While these upgrades may not be as invasive as an indoor
home remodel project, the scope and technical nature of the project may require
additional prep work before contractors can get started.
- This is a 3.5 % down payment with up to 35k
additional for
home repairs, appliances, small
remodeling, etc...
Using the Consumer Expenditure Survey (CES) data from the Bureau of Labor Statistics (BLS), NAHB Economics research shows that a
home purchase triggers
additional spending on appliances, furnishings, and
remodeling.
In fact, when a
home is sold in California, the average income generated from
additional expenditure on consumer items such as on furniture, appliances, and
remodeling is $ 4.429.
No
additional square footage was added to the
home, but after gutting, reconfiguring and
remodeling the existing dining room and kitchen, it looks so much more spacious!