When you own a house you don’t really want, the costs of owning a home in Baltimore can be unbearable. Take a look at some of the costs you can expect to face in our latest post!
Owning a house is flat out expensive, especially in Baltimore, Maryland. Owning the wrong house is even worse. It’s important as a homeowner that you take a deep dive past the mortgage payment and see what your house is costing you. Would it be cheaper to rent? Do you plan on starting a family or does your dog need more space? Did you inherit a home? Forgot to calculate the property taxes? All of these situations can be a surprise if you failed to plan in advance. With a direct sale to Charm City Property Solutions, you’ll be able to quickly put an end to all of the ongoing costs of owning a home in Baltimore so you can sell your house and move on.
Here are just a few of the costs a Baltimore homeowner will face:
Your Mortgage
Your mortgage on the property is likely your biggest bill each month. Is it worth it? Does spending this much on a house make sense for you, aligning with your goals? Keep in mind that your mortgage also includes interest and possibly mortgage insurance. These are costs you are paying each month that aren’t lowering the principle on the home.
Monthly Utilities & Expenses
People are often surprised when they add up their utility bills each month. Between the electric, gas, water, sewer, waste removal, cable, wifi, landlines, security company, and other bills homeowners pay each month, the totals can be into the thousands! In many cases, it can be like paying a second mortgage! When you are dissatisfied with your property or feel stuck with a house you don’t want, paying these bills each month can make you feel stressed and resentful. If you are tired of all the costs and bills, it may be time for you to consider a sale! Living somewhere that is smaller or more energy efficient will help you to save money on your utility costs.
Property Taxes
When selling your house in Baltimore, you will be responsible for the property taxes up until the day of closing. If your house sits on the market for a long time, your tax obligation could equate into hundreds or even thousands of dollars. This is even more money that you’ll need to spend on the house that you would have likely rather put toward something else.
Maintenance
Every house needs routine maintenance in order to avoid unnecessary repairs. Keeping up with this maintenance is always important, but even more so when your house is listed on the MLS. The house will need to be kept in tip-top shape, maintained at the highest of standards.
Repairs
Home repairs are inevitable. No matter how well you maintain the property, something is bound to break. When you put your house on the MLS, you could end up owning the house for several more months. This is more time for something to go wrong with the house. You’ll likely be making repairs to the house to make it more desirable to buyers, you might find yourself having to make larger repairs while your house is listed as well.
Landscaping
Whether you are cutting the grass yourself or hiring a company to take care of it, the outside of your house must look nice… especially if you have neighbors that like to complain. Curb appeal is important, so you’ll need to budget this line item apart of the extra costs of owning a home in Baltimore, Maryland!
With a direct sale of your Baltimore house, you’ll be able to avoid the continued holding costs as well as repairs! What is your house really costing you?