When Buying a Huntsville House is a Bad Idea (and How To Know)

When Buying a Huntsville House is a Bad Idea (and How To Know)

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Buying a Huntsville House

When Buying a Huntsville House is a Bad Idea (and How To Know)

People often aspire to be Huntsville  homeowners one day. Whether they are fresh out of college or settling down to start a family, people dream of buying a Huntsville  house they can call their own.

While renting can feel like money getting thrown away, owning a Huntsville house is not always as glamorous as it seems.  Not every person can benefit from owning a home. Which is why before buying a house, you should weigh your options before signing on to pay a thirty-year mortgage.

Saving Money for Maintenance

Once a person owns their own Huntsville  home there is no longer a landlord to call when something breaks.  Every problem that comes up is up to the homeowner. And these problems can get expensive.  

Most homeowners spend around one percent of the value of their home in maintenance costs each year.  These are the basic maintenance costs and Huntsville homeowners should put back even more into an emergency fund for unexpected problems that may pop up.

Skyrocketing Taxes

The property taxes on a house can be shockingly high and some new Huntsville  homeowners do not expect to pay that much. Every home will have property taxes of varying amount.  There are many ways property taxes change due to where the house is located and the condition of the home.  


No one wants to be uninsured when disaster strikes.  Getting homeowner’s insurance is important and often required by a lender if there is a mortgage on the house.  

Different insurance companies will have different rates and plans.  To get good coverage a homeowner must be willing to pay the higher premiums.  Otherwise, they risk not being covered for an emergency that is not in their cheaper, more limited plan.

Filing Taxes

Something positive about owning a Huntsville  home is that the mortgage interest is tax deductible.  While there is no set number for how much a person can expect to get back when filing their taxes with a mortgage, it can be a perk for those that pay attention to that end of the year refund.  

Depending on the other financial factors this can be a decent bonus for paying on that mortgage.

Going Up

Those that spend many years in their Huntsville home are likely to see the home’s value appreciate.  That is an increase from the time that they bought it.

However, those that plan on living in a house for a shorter term may actually see the value decrease.  The Huntsville market is always changing. This means that from year to year it can be different.

Keep in mind that as the value of a house appreciates the homeowner can expect to see higher insurance, tax, and maintenance costs too.

Buying a Huntsville house is a goal for many people. The idea that they are able to renovate and make the house fit their style is appealing.  Someone who is okay staying in one area for a long time may benefit from the tax break it gives them and love to see the value of the home steadily increase.  

However, if you plan on moving frequently, you may not want to take on the added insurance and tax costs.  Plus, the maintenance alone can be very expensive for those not used to maintaining a Huntsville house.

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