Expensive Long-Term Considerations of Buying a Luxury Home

Many families dream of owning a luxury home with large, open concept rooms, extra living space for entertainment, relaxation, guests or office space and all the fabulous amenities that come with luxurious living. Of course, when looking at real estate purchase, you need to qualify for a mortgage, moving in and all other startup costs. When you and your family are in market for a new house, always be sure to tell your College Station, TX realtor what your actual budget is. This way she can show you houses you can afford.

Being able to qualify for a mortgage, pay a sufficient down payment and all closing costs and making your payments for the next 15 to 30 years is, of course, essential for luxury home ownership. Unfortunately, some people do not take into consideration other long-term expenses that will exist for the larger and fancier house.

Luxury homes are larger and have more rooms. This means you will have to furnish them unless you are going for stark minimalism and painting everything white with a cushion or two on the floor. Each room will need appropriate furniture, curtains and window treatments and some sort of decorator accents to make it really look like a home.

Larger and more numerous rooms also equals considerably higher utility costs. This is especially true for open concept homes and those with very high cathedral ceilings. It is more difficult to heat and cool them evenly than non-luxury homes with smaller rooms and 8 or 9 foot ceilings. One thing that can counteract these expenses is that many luxury homes have two or more zones of heating and cooling controls so you can use just the one you need efficiently.

Another long-term expense of buying a luxury home has to do with what the home is made of and how it is decorated before you bring in the furniture and knickknacks. Maintenance and upkeep of more luxurious materials will cost more than basic options. For example, marble countertops need to be sealed regularly so they do not stain. Hardwood floors are more likely to become scratched or worn than vinyl or laminate.

All the little touches that make a home truly luxurious only affect the way you live in them, but also how much money you have been well after the sale is complete. Even the families who can afford the higher price tax on a home found by their excellent College Station, TX realtor, need to think about whether the additional cost for utilities, decorating and maintenance are reasonable.

It may be better to consider is slightly smaller home or lot and focus on making that home as luxurious as you can on the inside. Finding the perfect home for your family may require some compromises on your dreams, but being able to afford not only the mortgage but the upkeep and utilities comfortably will make the home ownership life that much better.

Featured Home for Sale in College Station, TX

Sarah Miller, your RE/MAX realtor bryan-college station can help you discover a lot of great tips for making a profitable sale of your home. Call Sarah Miller at 979-255-1904 for your real estate needs in Bryan-College Station and the entire Brazos Valley!