Buying a House: What if I’m worried about repair costs?

Some people are nervous about buying because when you own, all repairs and updates are your responsibility instead of a “landlord.”

It’s an understandable concern but one that is easily remedied by 1 or all of these 3:

Warranties

Savings

Equity

You can purchase a home warranty that covers repair needs. You can tailor the plan to your wishes and budget. Some cover major appliances and plumbing, some also cover structural issues like sheetrock or roof leaks.

As your agent, I can show you a few plan options.

Savings become easier to grow when you buy wise. Buying wise means reducing your cost of living and/or earning rental or business income from your real estate investment.

Most repairs won’t cost as much as you think. You won’t need a total renovation. Very likely you’ll have no repair costs or you’ll spend less than $500 a year on them and if you have a warranty in place, you’ll spend less than that.

By the time you want larger scale work done, you should have substantial equity in the property. Equity is the difference between what you owe and the resell value of the property.