These Are 4 Costs I'm Asking About When I Go to Open Houses

I'm currently in the market for a new home, and I want to make sure the house I buy is not a financial burden. This means I'm looking carefully at the mortgage loan costs I'll have to pay after I make my purchase. I can estimate those costs using a mortgage calculator once I know the price of the home.

I'm also taking a look at things like property taxes and insurance, which are important added costs as well. Fortunately, those are usually listed in home listings so I can get an idea of what I'll have to spend. 

In addition to these expenses, though, there are some other costs I want to take into account. It can be harder to estimate those, so I make a point to ask about them when I visit open houses. Here's what they are. 

1. Lawn maintenance 

I don't have the time or inclination to mow my own lawn, but I want to make sure my yard looks good. With most of the houses I am interested in buying, the property owners use lawn services to maintain their yards. As a result, I always ask at open houses how much lawn maintenance costs. 

The price can vary pretty substantially depending on factors like how big the yard is, how easy it is to access, and whether it needs regular fertilization or if the grass tends to thrive. But, with the nationwide average cost for lawn care running around $124 per visit, per Bob Vila, this is definitely a cost I want to make sure I factor in when deciding if a home is affordable. 

2. Pool care 

Most of the homes I am looking at also have swimming pools. I know pools can be expensive, so I want to find out how much the current homeowner spends each year. Usually, people use pool services so they can just quote a flat monthly rate to me. 

But, sometimes people take care of the pools themselves so I can get an estimate of how much chemicals cost. It's helpful for me to know this too, as I can make sure there is room in my budget for a professional service if I need one. 

3. Utilities costs 

There is wide variation in how much utilities cost from one house to another, as this can be affected by factors like how high the ceilings in the home are, how good the insulation is, and how much room there is to heat and cool. If the home has upgraded energy-efficient appliances, it can also make a big difference.

I don't want to be caught off guard by buying a home that happens to have unusually expensive utilities for some reason. So, I always ask if the current homeowners can provide an estimate of what their monthly utility bills are in the home. 

4. HOA dues

Finally, the last big thing I want to find out about is whether there are homeowners association dues. A lot of times, the home listing will specify this, but I just want clarification on what has to be paid and how. For example, in some homes, you get a discount if you pay annually while in other locations the only options have been to pay the full price either monthly or quarterly.

By asking about these four costs, I can get a fuller picture of what my total monthly expenses would be if I bought the home, rather than just the mortgage loan payment. This allows me to make a better decision about whether it will be affordable for me over the long haul.