The cost of owning a house in Fort Wayne, IN is made up by many factors beyond the monthly mortgage payment. There are plenty of other costs that you will need to account for, including items such as homeowners insurance, property taxes, appliances, and more. Windsor Homes is here to help inform you of everything you need to know when you’re starting to build your dream home.
Home owner insurance is almost always required before a lender will give you a mortgage. The average premium for home owners nationwide was about $1130 in 2018. A few factors that lenders take into account when determining the cost of your insurance premium are environmental. For example, if you live in an area that gets hit by hurricanes or if you live in a flood plain, your premium will inherently be slightly higher.
Property taxes will be an unavoidable cost that you will have to budget for. These taxes are determined based on the value of your new home. Hence, the more expensive the home, the higher your property taxes will be.
Appliances and furniture are obvious additions to any new house. After all, you can’t call the house a home if it’s not an inviting and comfortable place to be! This cost will obviously vary depending on the size of home you are filling and the amount of furniture and appliances you already own.
We hope this helps to prepare you for all the costs that are associated with new home building. Windsor Homes can help you answer any questions that you may have.