Unexpected Costs That May Get You Into Trouble FinanciallyBuying your first home is an exciting personal milestone. You've qualified for the mortgage and you know what your monthly expense will be. Or do you?
As a renter you may not have had to pay for water, sewer, or garbage. Those are all new expenses you should expect.
New living room or bedroom furniture can easily run in the thousands. If you do buy new furniture, BEWARE, however, of store incentives that offer no interest for 12 months. If the full balance is not paid within that time frame, interest could be very steep (as much as 20% or more) and is calculated from the date of purchase. On a $2000 purchase, for instance, the interest could add another $400 in cost.
For more information on Anne, visit www.anneschwab.net