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Posted on November 30, 1999 by Joy Stoyle | Posted under Real Estate
Expensive Houses - Are they Worth the Dream?
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Expensive houses are for people who have a lot of money most of the time. Though this may seem obvious, to some people it isn't. Middle class people who save their money well and have been good with their credit often believe that having an expensive home should be their reward. What they don't often realize, though, is that it doesn't end when they simply buy the house. Even if you win a high-class home in a contest, you still have to be responsible for the upkeep, property taxes, insurance, and utilities, and these are often much higher than you think they will be. Expensive houses tend to remain expensive. Expensive houses are usually big houses. Big houses cost a lot to heat and cool. They also tend to be in nice neighborhoods, and this means the property taxes are going to be some of the highest. Having an expensive home usually means having more rooms, and more bathrooms. This means you need more furniture, more fixtures, more countertops, more flooring and carpeting. Though the house will most likely have all of those things when you purchase it, eventually many of those things will need to be repaired and replaced. Think hard about the house that you are considering buying. Browse through some expensive houses that are for sale and really take a good look at them. They need a lot of upkeep, and your financial responsibility doesn't stop after you buy it. If you believe that you will be able to afford the upkeep after you buy it and that your financial future looks good, then it could be okay. If you think that the financial upkeep will be too taxing for you and your family, then consider getting a less expensive home and putting your money toward more important things. About The Author: |
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