Purchasing a home is arguably one of the biggest financial decisions you will make in your lifetime. As you start your hunt, don’t forget there will be other costs associated with your purchase then the price of the home. Here are 5 fees to keep in mind as you begin to budget.

HOME INSPECTION

This is a crucial step in the home buying process. The findings that come from the inspection can help you negotiate price and repairs. Generally, you can expect to pay between $300 to $500 depending on the home and the location.

TITLE SERVICES

Title services encompass the transfer of the title from the seller and a thorough search of the property’s records to ensure to no one will pop up with a claim to the property. Additionally, you may need to buy title insurance which will protect the lender or your investment in the home.

APPRAISAL FEE

Before getting a loan, you will likely be required to get an appraisal of the home to determine its estimated value. This will be conducted by a third-party company and the cost can land anywhere between $300 and $1,000, depending on the size of the home.

HOA FEES

Many communities have a homeowners’ association that enforces monthly fees. This money is used for general maintenance and updates to areas like pools, parks, and more. Typical HOA fees are around $200 per month.

TAXES

The taxes each buyer pays at the closing table differ, but it is not uncommon for it to be up to two months’ worth of county and city property taxes. Additionally, there may be taxes for the transfer of the home title.

As homeowners pull out Halloween decorations, however, they often take the opportunity to look around their homes and make some more permanent changes. Whether it means splashing walls with a fresh coat of paint or rolling out a new rug, even the smallest changes can make a difference in the way a home looks.

With the cooler fall temperatures, this is the perfect time to tackle those interior design projects homeowners have put off all summer. As an additional bonus, your home will be ready for entertaining friends and family this holiday season. Here are eight of the latest design trends to help inform your decisions as you redo your own living spaces.

Reclaimed Wood

Not only is reclaimed wood good for the environment, but it is attractive, as well. You can craft everything from light fixtures to desks using salvaged wood.

Space-Saving Design

Even if you aren’t challenged for space in your new home, you can always use more space. With a little creativity, you can free up extra storage space and extend the size of your home.

Mixing Metals

Historically designers have worked hard to achieve uniformity in the metals in a room. If a kitchen had stainless steel appliances, the last thing a designer would consider was gold knobs and handles on cabinets. But multiple metals in one room is gaining in popularity, as demonstrated in these designs.

Mismatched Colors and Patterns

Instead of painstakingly matching every item in each room, this new design trend frees you up to pair items that wouldn’t have normally been matched. With the right touch, you can even make different patterns and clashing colors work together.

Mixing Some Old with Some New

It’s a great time for homeowners on a limited budget, since budget decorating is all the rage. Combine new items with finds from thrift stores and garage sales for a trendy, eclectic look that catches the eye and impresses guests.

This fall, update the look of your home with one of these exciting design trends. You’ll have something to show off when family visits for the holidays and you’ll give your home a new look going into the new year. Best of all, many of these ideas can be done with minimal expense, keeping your budget free as you prepare for the gift-buying season.

Remodeling your home? If so, there’s some planning required on your part before you dive into whatever project you’re working on. Keep in mind that while certain things you do will help the project in a positive way, there are also things that you might do that could totally sabotage your efforts.

Are you a novice at home remodeling? Then make sure you don’t make the following mistakes:

Not Making All Necessary Decisions Before Moving Forward

If you don’t take the time to scope out every detail of your project before construction even starts, you’re making a huge mistake. A reputable contractor will understand this, and will carefully walk you through the entire project from A to Z in order for you to be able to anticipate all the scenarios that might pop up along the way. But in addition to these scenarios that need to taken into consideration, you’ll also need to think about things like paint colors, faucet selection, hardware choices, and other details like these.

You might think these are minor decisions that need to be made, but you’d be surprised at how much they can influence the overall product. The hardware you choose might not be the ones delivered, or the faucets you want might be on backorder. Things like this can make a 4-week project turn into an 8-week ordeal.

Make sure you make these decisions well in advance to avoid any hiccups.

Not Having a Detailed Floor Plan Designed

Working without a design drafted up is a huge faux-pas. How are you going to know precisely how everything will be laid out without a solid floor plan? There are tons of elements that go into making up a space, and having a detailed plan in place will help you nip any problems in the bud before they become major issues.

Your best bet? Hire an architect and a designer.

Changing Your Mind Too Often

OK, so it’s pretty common for people to change their minds about a previous decision made when it comes to home renovations. And while this might be fine the odd time, changing your mind too many times can not only completely complicate the project, but it will also cost you a lot more at the end of the day.

Every time you change your mind about something, it’ll result in a charge order. This costs money. You’ll also be throwing off the scheduling with every little change you order. Think about it: the change need to be communicated to everyone on the job so that they can ditch the old plan and get with the new. This will basically delay the completion of the project.

It’s fine to make a change here and there, but you need to be aware of how this will affect the overall job.

Not Having an Emergency Fund

Planning ahead is key, not only to make sure the end product is exactly what you had envisioned, but also to make sure the project stays with your budget. But of course, it’s highly unlikely for home remodeling projects to stay well within budget, which is why an emergency fund needs to be set up and kept on the side in case the costs are a little more than you had initially anticipated (and they probably will).

If you plan well enough from the get-go, you should be able to comfortably get away with a 5% or 10% contingency.

Putting a Bandaid on a Major Problem

You might want to reface your kitchen cabinets, for instance, but sometimes a lot more work will be needed. There may be times when the entire kitchen cabinetry may need to be ripped out and replaced entirely if the materials are rotting or sagging. There may even be times when entire walls may need to be replaced, or in much more extreme cases, the entire house may need to be ripped down as is the case with faulty foundation.

Be honest with yourself, and be realistic about what really needs to be done so that you’re not just covering up a problem temporarily. Listen to the advice of your contractor about what he suggests needs to happen. Hopefully, you’ve chosen a competent and reliable contractor who will give you open, honest answers that are best for you, and not just for his wallet.

Don’t Get in the Way

Want to disrupt the workers and delay the completion of your project? Getting in the way will do just that. Sure, you want to make sure everything is going the way you want it to, but don’t be a nag. Sorry to sound brash here, but every time the workers need to stop to talk to you or to work around you, it causes a delay (not to mention annoys the workers).

If the conversation is important enough that it can’t wait, that’s one thing. But to chat up the plumber or electrician about every minor thing is just a downright distraction.

Do yourself a favor – hire a contractor, and other professionals involved in home remodeling. They’ll give you a plethora of advice about you should and shouldn’t do before, and during the construction. Doing your due diligence will not only save you time and headaches, it’ll save you money too.