I'm looking to buy a House in Raleigh , North Carolina and wanted to figure out what are all the Monthly Expenses including utilities that I'll have to pay for when owning a House.
Below is a list of monthly expenses I have listed so far and wanted to know if I'm missing anything.
■ Mortgage ( 20% down so no PMI )
■ HOA
■ Electricity
■ Gas ( None because new construction house has electric stove ) (Everything is electric )
■ Water Bill
■ Camera Security system
■ internet
■ Lawn Care
■ Regular Maintenance
□ Will I need to pay for " Trash " ?
□ Will I need to pay for " Sewer " or is this included in Water bill ?
Your HOA may cover your lawn; case by case. Sometimes they only do front. Sometimes both.
Your HOA may cover pest control, but that's something to consider.
Regular Maintenance - within the 1st year on a new build, you shouldn't pay for anything. The builder warranty should cover you but make sure you read ALL the docs thoroughly; this is the biggest advantage of buying a new build, so use it A LOT. Also, make sure that around month 9, 10 or 11, you get a THOROUGH home inspection done so the builder can repair any/all items that fall under the warranty up to that 1-year mark. Finally - make sure you register HVAC and appliances. Most HVAC systems will have a 5-year parts warranty; you need to register it to get 10 yr.
Water/Sewer/Trash/Recycling is usually under the same bill through the City. Some HOA's may cover 1 or multiple of these 4. Each neighborhood is different, especially with new builds, since they can straddle cities/counties or be unincorporated, but generally speaking you will be responsible for all of the above 4.