5 Budget Mistakes New Carillon Lakes Community Homeowners Make

Congratulations, you’ve just bought your new home in Carillon Lakes community! By now you’re probably thinking about how to dress up your new place, what furniture to buy, what color to paint it in, or where best to set up the home entertainment system you’re eyeing at the store.

Hold up! Not to burst your bubble, but before you start picturing out the additional expenses you’re about to take to beautify your humble abode, why not focus first on the expenses at hand? Apart from the monthly mortgage, there are other fees that you need to think about:

Depending on what kind of coverage you purchase, companies can offer you a bundled insurance plan - which includes auto or life insurance - at a more affordable price. On average, an insurance can cost you up to $1,500 a year so it’s a big-ticket item that you need to factor into your home budgeting needs.

1. Homeowner’s insurance

Apart from home insurance, another thing you need to take note of as a new homeowner are property taxes which are paid twice every year. While the amount varies by state and county, property taxes can set you back as much as $2,000 - $3,000 depending on the size and value of your property. Sure, you can get a reassessment for a lower property tax but combined by the years you’ll be living in your new house in Carillon Lakes community, you’ll still be paying thousands of dollars yearly.

2. Property taxes

There are also association fees included with houses bought in gated communities or subdivisions. These fees cover the expenses for repair and maintenance of common areas such as the clubhouse, swimming pools, security guards, and more.

3. Association fees

Speaking of maintenance, another factor to consider in your new homeowner’s budget are the routine maintenance for your Carillon Lakes community home. These include, but are not limited to, rusty old appliances, pipes replacement, heater problems, and other weather-related and common wear and tear expenses. Depending on the age of your home and appliances, best to budget $500 - $2,000 annually for this.

4. Routine maintenance

Apart from routine maintenance, another thing you should factor into your new home budget are the necessary renovations and repairs. Is the house old? Should the roof be replaced? Broken porch? Small kitchen? Need additional room space? Want to add a pool?

5. Renovations and repairs

Never forget to include these expenses on your home budget. Now that you’ve got a new home, the most important thing is to make sure that you can live in it worry-free for as long as possible.

Check our other useful tips for new homeowners and a list of activities and events in Carillon Lakes community by visiting http://www.LakelandFloridaLiving.com.

Call me, Petra Norris, at (863) 619-6918 or send me an email at petra@petranorris.com if you’re looking for a Lakeland Florida real estate agent with superior local knowledge, experience, professionalism, integrity, and personal service to help you sell or buy Carillon Lakes community homes for sale. Petra Norris, REALTOR®…Going The Extra Mile For You!