When deciding to buy your first home, it’s important to count all the costs. That’s why Housing and Credit Counseling, Inc. holds free Home Buyer Workshops.
“It’s one of the biggest investments they’re going to make,” said Chris Burk with HCCI. “We want to make sure that they make the right decision. You’re taking on a lot of financial responsibility here. We don’t want to make someone who is really a great tenant right now into a poor homeowner.”
Getting your total budget locked down is the key to being successful with your home purchase.
“We want to help people get a budget in place, so they realize, not only do they have a house payment now, and maybe it is less than what they’re paying for rent, but don’t forget, you’ve got insurance and property tax,” said Burk. “Then, if something breaks, you’re in charge. You have to pay for fixing that. You can’t just call the landlord anymore.”
Ongoing maintenance is one thing that can make a good renter struggle as a homeowner.
“We want to make sure that in that budget, definitely, is money set aside each month for future repairs,” said Burk. “It’s not a matter of if something’s going to happen, it’s when something is going to break and you need to have the money ready to go to take care of that.”
HCCI will have workshops April 27, July 20 and November 16 in Topeka. For more information, go to hcci-ks.org.