Home purchase estimation

[jai_bali]

Hi,

I see lot of discussions about home purchase and expenses...Just want to know info about home purchase...i dont have much knowledge on home purchase jargon...Can someone shed light on the following so that it will be useful for everyone and esp. newbie like me  

1) What are the monthly expenses when we purchase a independent home.. I know of the following:

                  Principal and Interest, Property Taxes, Homeowners' Insurance, Mortgage Insurance, HOA..any other expenses that might occur monthly apart from these?

2) What are the expenses for maintenance like termite control etc? and how much would be that on average?

3) When purchasing a home, what additional costs would be there on top of original home price? Like closing costs etc.

4) What are the good websites/sources to look for a property apart from zillow and redfin?

5) Any other things to know apart from above info?

Any info is appreciated..

[ennnna chata]

10 minutes ago, jai_bali said:

Hi,

I see lot of discussions about home purchase and expenses...Just want to know info about home purchase...i dont have much knowledge on home purchase jargon...Can someone shed light on the following so that it will be useful for everyone and esp. newbie like me  

1) What are the monthly expenses when we purchase a independent home.. I know of the following:

                  Principal and Interest, Property Taxes, Homeowners' Insurance, Mortgage Insurance, HOA..any other expenses that might occur monthly apart from these?

2) What are the expenses for maintenance like termite control etc? and how much would be that on average?

3) When purchasing a home, what additional costs would be there on top of original home price? Like closing costs etc.

4) What are the good websites/sources to look for a property apart from zillow and redfin?

5) Any other things to know apart from above info?

Any info is appreciated..

 

10 minutes ago, jai_bali said:

Hi,

I see lot of discussions about home purchase and expenses...Just want to know info about home purchase...i dont have much knowledge on home purchase jargon...Can someone shed light on the following so that it will be useful for everyone and esp. newbie like me  

1) What are the monthly expenses when we purchase a independent home.. I know of the following:

                  Principal and Interest, Property Taxes, Homeowners' Insurance, Mortgage Insurance, HOA..any other expenses that might occur monthly apart from these?

2) What are the expenses for maintenance like termite control etc? and how much would be that on average?

3) When purchasing a home, what additional costs would be there on top of original home price? Like closing costs etc.

4) What are the good websites/sources to look for a property apart from zillow and redfin?

5) Any other things to know apart from above info?

Any info is appreciated..

 

11 minutes ago, jai_bali said:

Hi,

I see lot of discussions about home purchase and expenses...Just want to know info about home purchase...i dont have much knowledge on home purchase jargon...Can someone shed light on the following so that it will be useful for everyone and esp. newbie like me  

1) What are the monthly expenses when we purchase a independent home.. I know of the following:

                  Principal and Interest, Property Taxes, Homeowners' Insurance, Mortgage Insurance, HOA..any other expenses that might occur monthly apart from these?

2) What are the expenses for maintenance like termite control etc? and how much would be that on average?

3) When purchasing a home, what additional costs would be there on top of original home price? Like closing costs etc.

4) What are the good websites/sources to look for a property apart from zillow and redfin?

5) Any other things to know apart from above info?

Any info is appreciated..

[sunnylives]

1) What are the monthly expenses when we purchase a independent home.. I know of the following:

                  Principal and Interest, Property Taxes, Homeowners' Insurance, Mortgage Insurance, HOA..any other expenses that might occur monthly apart from these?

Additional taxes like MUD/PID depending on city.

2) What are the expenses for maintenance like termite control etc? and how much would be that on 

Termite - 100 ish  per quarter

Gas - 50-200

Electricity - 100 - 250 

utilities + trash - 100 ish 

lawn mowing - 50-70

internet - 40-75

security - 20

3) When purchasing a home, what additional costs would be there on top of original home price? Like closing costs etc.

Any upgrades you choose 

Third Party fees - 3-5k approx 

Escrow Deposit - they take several months of your hoa, home insurance, house taxes in advance.

Hoa initiation fees - Varies depending on community 

4) What are the good websites/sources to look for a property apart from zillow and redfin?

Roam on streets, so many good homes are sold without appearing online.

5) Any other things to know apart from above info?

 

[jai_bali]

Thanks @sunnylives..any negotations we can do in the above expenses? Like waiving closing costs etc?

[MiryalgudaMaruthiRao]

[Silveradotwo]

Just now, MiryalgudaMaruthiRao said:

Vuncle naa meeda padav enti

[MiryalgudaMaruthiRao]

Just now, Silveradotwo said:

Vuncle naa meeda padav enti

[Silveradotwo]

2 minutes ago, MiryalgudaMaruthiRao said:

 

[WigsandThighs]

8 hours ago, jai_bali said:

Hi,

I see lot of discussions about home purchase and expenses...Just want to know info about home purchase...i dont have much knowledge on home purchase jargon...Can someone shed light on the following so that it will be useful for everyone and esp. newbie like me  

1) What are the monthly expenses when we purchase a independent home.. I know of the following:

                  Principal and Interest, Property Taxes, Homeowners' Insurance, Mortgage Insurance, HOA..any other expenses that might occur monthly apart from these?

2) What are the expenses for maintenance like termite control etc? and how much would be that on average?

3) When purchasing a home, what additional costs would be there on top of original home price? Like closing costs etc.

4) What are the good websites/sources to look for a property apart from zillow and redfin?

5) Any other things to know apart from above info?

Any info is appreciated..

[sunnylives]

22 hours ago, jai_bali said:

Thanks @sunnylives..any negotations we can do in the above expenses? Like waiving closing costs etc?

Short answer yes, If you are going with builder preferred lender, builder may offer some upgrades/ upgrade money. Some lenders do offer credits on closing costs. 

[Thokkalee]

Old homes- desi realtors usually keep 1 to 1.5% and give the rest back to you as part of closing costs.. 

new homes- desi realtors take 1K and give the rest back to you.. 

 

[Thokkalee]

44 minutes ago, sunnylives said:

Short answer yes, If you are going with builder preferred lender, builder may offer some upgrades/ upgrade money. Some lenders do offer credits on closing costs. 

Builder tho aithe interest rates ekkuva untayi.. upto 1% more.. people usually refinance after few months for a lower rate