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HOMEBUYER PROJECTS:
THE COST CONUNDRUM
MANAGE `
Os
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www.MetroSold.com
Let our 100 years of combined experience and
knowledge guarantee the best possible outcome.
4000
,10011
WEL
,11, ,
Jay Greenspan, Broker
Jgreenspan@metrosold.com
248-488-SOLD
, ,v. 1 11111
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MICHIGAN METROPOLITAN, REALTORS®
A DIVISION OF MICHIGAN PROPERTY MANAGERS
The FIRST YEAR in a new home:
2038550
•
!fi r
FIND YOUR PERFECT FLORIDA HOME
AND GET OUT OF MICHIGAN'S WINTERS!
75%
ini"--
(EYES REAL ESTATE
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face a costly,
unexpected
emergency
THROUGHOUT SOUTH FLORIDA, INCLUDING BOCie BOYNTON, DELRAY,
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57%
tackle more
projects than
planned
46%
spend more money
on home projects
than anticipated
410
51%
spend more
time than
planned
This data was collected from homeowner service requests submitted on HomeAdvisor.com between
January 2013 and April 2015. Additional data is based on a survey conducted among 647 homeowners,
of which 223 moved into a home in the last five years, by Survey Monkey between May 26 - 30, 2015.
LET AN OLD FRIEND BE YOUR
MICHIGAN-FLORIDA CONNECTION...
NINA S. SPINNER-SANDS
954-290-8,293
NINASPINNER-SANDS@KEYES.COM
Spinner:Yands
REALTOR
BUY • SELL • INVEST
2038630
Condo for Sale
Delray Beach, Fl Condo, 1300 sq. feet, 2 B/B first floor unit, immaculate, newer building,
screened patio, dog friendly, heated pool, walk around lake or to shopping.
Near beach. Furnished. $189,000. Monthy Fee $355.
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40 October 29 • 2015
2043540
1
Repair Costs Add Up
f you're buying a home, there are
additional expenses you may want
to budget for beyond the down
payment and monthly mortgage.
Home projects, even small ones, can
really add up.
Recent data from HomeAdvisor, a
leading home services marketplace,
reveals that 75 percent of homebuyers
will face a costly emergency within
the first 12 months of moving into a
new home. From unplanned projects
to unexpected emergencies, most
homebuyers reported spending more
time and money on projects than
they initially anticipated.
The most frequent emergency
projects reported by homebuyers in
the first year of owning a new home
included blocked toilets and pipes,
a clogged drain, a broken heating
or cooling system and water leaks.
These unexpected projects can cost
homeowners anywhere from $199
to fix a clogged drain to $2,068 to
repair water damage according to
HomeAdvisor's True Cost Guide.
"To help prepare for these unex-
petted costs, homebuyers should
plan to spend 1 percent of their home
purchase price on repairs and emer-
gencies each year:' says Marianne
Cusato, special housing adviser to
HomeAdvisor.
Courtesy of State Point
Expensive Problems
• Cracked concrete in the founda-
tion: The cost for a structural engineer
to assess a property is about $300.
If the expert finds major structural
damage, the repair would be costly,
$10,000 to $30,000.
• New Roof: New roofs cost from
$5,000 to $12,000, depending on their
size.
• New Furnace/Air Conditioner:
New HVAC units cost about $5,000,
with high-efficiency models starting at
about $10,000.
Source: Bankrate.com