Budgeting For New Home Expenses
I've seen it happen with rookies and seasoned home owners alike - buyers determine their budget, get approved for a mortgage, factor in taxes and purchase a home, only to get sticker shock on some big ticket items. There are great real estate deals right now in Highland Park and all over the North Shore, but prospective buyers still need to approach the costs of home ownership with eyes wide open. Here are some of the major expenses that buyers often overlook when budgeting for a home purchase.
Window Treatments - Great natural light is a huge selling point, but those gorgeous windows need to be dressed for light blocking and privacy. Window treatments for standard windows are available at all price points, but most windows are custom sizes. It's not uncommon to spend hundreds on a single window, and higher end textiles and hardware can easily go into the thousands. Even capable seamstresses who make their own curtains will have considerable costs associated with expenses. Look around online or visit a home decor shop to get a sense of pricing.
Landscaping - As we move into the winter months this can be particularly tricky. Soon yards will be blanketed with snow and buyers may not know what lies beneath. Clients of mine moved to Highland Park from the city; when we negotiated the deal in late winter it just looked like their new home had some grass and a few plants, but by the time they moved in spring it was obvious that they had an elaborate garden that required professional care. They love their spectacular yard, but not the annual landscaping bill that's equivalent to an additional mortgage payment. In-ground lawn sprinklers require maintenance and annual turn-on and shut-off service by a professional. A heavily wooded lot may require scheduled care by an arborist.
Snow Removal - One thing I can guarantee any buyer on the North Shore is that they will get snow. Plan on hiring a service or purchasing equipment to DIY.
Recurring Service Visits - Good maintenance is the best way to protect your home investment and enjoy it without any surprise repairs. Plan on bi-annual service calls for HVAC maintenance and routine checks of the sump pump and battery back-up system. Many home owners find that a service plan is the most cost-effective solution, and I encourage my clients to support local businesses like Ravinia Plumbing and Heating of Highland Park and American Weathermakers of Northbrook. This area has abundant natural beauty, but the downside to that can be unwelcome critters. Be sure to budget for pest control.
These are just a few of the basics, and specifics will vary with each home. Sometimes a home's biggest selling points can require extra service and care. Pools require maintenance, specialized equipment and chemicals, natural stone needs to be carefully maintained and periodically resealed, and fireplaces need regular cleanings and inspection. Buyers who think about these costs up front won't get caught off-guard.
The above article, Budgeting For New Home Expenses, was written by Noah Levy - A REALTOR assisting buyers and sellers with their real estate needs along Chicago's North Shore. 

For more information regarding homes for sale or listing your property in Highland Park IL, Glencoe, Kenilworth, Wilmette, Winnetka, Deerfield and other surrounding Chicago North Shore suburbs check out my website Noahlevyhomes.com give me a call at 312.203.2416 or email noah.levy@cbexchange.com.
I look forward to hearing from you!
"Noah Knows Real Estate!"
All rights reserved. No copy writing permitted without written permission.


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Pumpkin Fest is Back in Highwood Illinois. It's that time of year - leaves are falling, the temperature is dropping and many homes are being decorated for Halloween. The festivities begin today October 19 through Saturday October October 22, 2011. The residents of Highwood are are excited to break a record on October 22,2011 as they attempt to break the Guinness Book of World Record for the most Jack-O-Lanterns lit in one location. In addition, the city Of Highwood and Keene, New Hampshire have decided to compete against one another - Go Highwood!!!
Highland Park
Port Clinton Art Festival is this Weekend (August 27-28) in Highland Park IL. The Port Clinton Art Festival is definitely one of my favorite outdoor events that take place in Highland Park IL every year. For its 28th year the Port Clinton Art Festival will be open on Saturday and Sunday from 10 a.m- 6p.m with over 260 artists displaying their unique fine art for sale in Port Clinton Square and along the sidewalks of downtown Highland Park.


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Once you stop over at Ravinia's Farmer's Market you'll be hooked - I know that I look forward to it opening every year. Enjoy!!
Ravinia Festival Highland Park IL - some great concerts during the 2011 season.