Budgeting is never fun. If given the choice, we’d all prefer to spend money freely and without consequence. But while it may not be as enjoyable, budgeting your money is important – especially so, when buying a house. Evidence of that can be seen in a newly released survey of homeowners. The survey found 81 percent of homeowners say their expenses are higher than they anticipated, leading 69 percent of them to have regrets about their home purchase. That’s a pretty significant share of homeowners who say owning a home is more expensive than they thought. It’s also a good bet that those homeowners were once buyers who didn’t do a thorough enough job of working out a budget and determining how much house they could comfortably afford. That means adding in costs like potential maintenance, repairs, insurance and property tax, in addition to the prospective monthly mortgage payment. Taking a real hard look at your finances and potential costs before you buy will help save you from the heartache and stress of owning a home that hurts your bottom line
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