09/09/2026
Wisdom Wednesday 🏡💡
A home’s purchase price isn’t the only number you should be looking at.
When buying a home, remember to consider the total cost of ownership: not just your new monthly mortgage payment amount.
These two things directly affect your monthly payment:
🏠 Property taxes (If you buy in a zip code that is less popular, you may actually be able to afford MORE home… because the taxes could be significantly different, some cities even have an additional city tax! (Leonardtown and La Plata for example!)
💰 Homeowners insurance (Using a local company versus a national company may make a big difference, but don’t neglect reviewing the coverage options, don’t focus singularly on the annual price; compare apples to apples when you’re shopping!
In addition to those 2 major pieces of your puzzle, I often have conversations with my clients about these other things too:
🔧 Maintenance and repairs (If you’re buying a “more affordable” home.. It may come with costly and needed updates sooner than later… would it be easier to spend $40,000 more and NOT have to come out of pocket for big ticket items like; roof, hvac, or new windows?
⚡ Utilities (The larger the house the more expensive those become too (thinking emoji)
🌳 HOA fees, if applicable
Two homes with the same purchase price can have very different monthly costs depending on all of these expenses.
Wisdom Wednesday Tip: Before falling in love with a home, make sure you understand what it will realistically cost to own it each month and leave room in your budget for the unexpected.
A little planning now can help make homeownership much more comfortable later. ❤️
💰 Connie Gunn Realtor®
💰 Century21 New Millennium
💰 Cell: 240-925-6287
💰 Office: 301-862-2169
