Last year I first put serious thoughts on buying home. We have been to this country since last 7 years and have been renting ever since. I studied our Buy vs Rent situation and decided to hold off buying home, till we save more money or, perhaps till we save enough money to buy without mortgage. But, apart from home value, taxes and closing costs, there are other hidden costs associated with a home. In this article we will talk about these associated costs that you should also consider while buying your new home.
One of my colleagues is looking for a home and we had a discussion on the expenses he should pay, how much should he budget for? As far as timing goes, would it be worth it for him to wait and save a few more grands to cover the not-so-talked-about costs?
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