Knowing the True Costs of Your Next Home

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cost of a homeWhether you are looking to upgrade your current living status, get out of your parents’ basement, or even just need a first home after college, there are many things to look for when you are considering your new place of living. Don’t forget that while you want to be comfortable, you need to account for things like costs and money in the real world, so as long as you consider the following then you could come out far ahead.

Amenities

In general, you want a home to be just what it is and nothing more. An apartment that offers dozens of amenities and countless perks might seem nice on paper, but the fact is they are just going to charge you more in order to have access to those things. It doesn’t really make sense, or does it? Consider some things that many apartments and apartment complexes throw in off of the bat and see how they really could save you.

Aside from provided things like a pool, gym, picnic area, and just general things you may like, you also need to remember that those are built in to your costs already. If you pay for rent that doesn’t include a gym, then you also have to include the costs of buying a gym membership. Plus, you also have to account for the costs of driving to the gym (gas can add up), as well as the time it will take you to go round trip to the gym and back. It might seem extremely specific to account for every penny, but you need to know if you are wasting money or not when you look into any given lease house on listings at DDProperty.

Distance

Distance is a major cost that most people don’t think about, but it can easily be one of the costs that hurt people the most. When you think about the two places that people go it is typically to work and then also downtown (or wherever the hot spot happens to be). When you are considering the fact that your home base is where you start every day and finish every night, you are essentially implying that you know you will be making many trips out and about in any given day. Why would you willingly put yourself far out of the way for your home base when you have to commute more than half of the week to get to your place of employment or even to get to where you typically hang out?

It may not be second nature, but when you consider the idea of actual costs versus stated costs, you could quickly be spending far more time, effort, depreciation on your car and especially money in gas to “save” than you otherwise should. Just because the sticker price of an apartment far away is cheaper, you could be spending more when you actually account for the hidden costs that you waste on a daily basis.

Parking

The idea of parking and parking lots in general are a major concern for many simply because you typically have too much of it, or not enough of it. Whether you have the ability to park off street or on it, have access to a private garage or space, or even if the parking is monitored or not can all affect your general location. If you can never find a spot for example, just imagine how inconvenient it can be to never have a parking spot. Or, what could be even worse, just imagine what could happen if you need to park off street in an unmonitored area. Parking and security as a throw in may be worth it if you value your safety and the care and protection of your car as well.

Walkability and General Surroundings

While the general walkability and location of an apartment is hard to pinpoint, the key here is that you may not want to be in a location that is hard to access. You also don’t want to be shoved on top of someone else or be crammed into a tin can when it comes to your apartment. Not only should you care about the spacing of a residence in general, but where is the full unit in regards to the rest of the world? Are you in the middle of nowhere, or can you simply walk where you need to go? This counts not just for transportation, but for exercising and peacefulness as well. If you then throw in the facts about noise being related to walking distance (having scenery, nature and parks instead of being surrounded by multi lane highways), then you are left with the question, “where are you?”

It’s not just the location of an apartment that matters with respect to how far away from places you are, but it is also about are you comfortable with the immediate surroundings when you are home. You want to move to a place not because of a sticker price, after all, but because it provides you with comfort and satisfaction.

As you start to look for the home of your dreams (or at least the next place you can crash as you continue up the corporate ladder), you need to consider the actual costs and not just the sticker prices. Maybe you are willing to pay more for a certain location and maybe you aren’t. The decision is completely up to you and your preferences, however, you need to be sure that you are making a decision based upon the actual costs and not just stated prices without accounting for hidden costs as well.

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