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Breckenridge Realtors: How to Budget for Home Buying

There’s no question about it. Owning and maintaining a home can be expensive. As a Breckenridge Realtor, I’ve seen many of my clients struggle because of economic factors involved in the ownership of a home. Yet if you budget well and stay within your means, buying a dream home shouldn’t be a financial nightmare. office-tools-4-426737-m

That’s why I want to focus on how you can avoid having money problems as you buy and have the funds to properly maintain your new Breckenridge home. 

Be Realistic

It’s easy to be wowed by certain listings when you begin looking at homes. I can’t tell you how often I’ve observed clients fall in love with properties they’re unable to afford. For this reason, I always tell people to know their price range and stay within it.

In order to do this, though, you need to examine your finances before starting to house hunt. This means being very clear about your income, savings and credit so you’re not tempted to purchase a home that’s out of your financial league.

Additionally, it’s always important to acknowledge any other expenses, including taxes, insurance, repairs and any homeowner’s association fees. These costs can become unpredictable so they shouldn’t be overlooked in your budgeting process, and it helps to be a little conservative.

Maintenance Matters

Little things mean a lot when it comes to keeping your home in good shape. Therefore, you need to pay attention to minor problems and repair them in a timely manner.

Even forgetting to change an air conditioning filter regularly can lead to a large expense down the road. By not being in tune with the age of these filters, you could shorten your home’s lifespan. The cost to replace an air conditioner could end up being thousands of dollars, which is money you might have been able to save.

Similarly, a persistent leak or old wiring are also important maintenance items that should not be ignored. In short, it’s critical to be sensitive to warning signs that something needs to be fixed so that the problem doesn’t get any worse.

Turn to a Professional

You may think you’ll save money by asking a friend or relative to do renovations on your home. However, you could wind up spending more in the long run than if you hired a professional contractor in the first place.

An experienced, licensed contractor will know how to buy the right materials and has the required skills to install things correctly. Your childhood friend, who dabbles in construction, may give you a less expensive quote, but might make a mess that only a contractor can fix. Then you will end up spending even more money than you had originally planned.

Also, it’s important to keep in mind home renovations that go beyond painting generally require permits. Therefore, if you don’t hire a professional who understands the process for acquiring the proper permit for the work, you could face steep fines.

You’re much better off finding a licensed contractor than taking shortcuts when it comes to remodeling projects. This simple decision could save you thousands of dollars. 

Get More Info on Budgeting for Home Buying

It’s a fact that home buying can be a challenge – especially if you’re a first time home buyer. There are things you can do to be more economical as you buy and maintain your new home. If you’d like to discuss your options, and get some help finding the right Breckenridge home for you and your family, give me a call. I’m always ready to discuss a client’s options.

You’re welcome to start by browsing through the updated listings on my website at any time, and when you’re ready to talk through your options or schedule showings, contact me at any time via email ([email protected]) or on my office line. I look forward to working with you!


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Cell: (970) 390-9311 or Office: (970) 453-7000, Denver Direct: (303) 278-7000, Fax: (970) 453-7364
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