Purchasing a house is a huge commitment. Now that you’ve selected a house in Sacramento, how do you know you’ve made the right choice? When you pull into your driveway, do you have a tiny sinking feeling that you wish you didn’t buy this house? Did you have a high-pressure deadline when you made your decision? Did you explore different areas and keep an open mind, or did you only look in one location? Do you find that your house is really too small to be functional? Or do you think you have too much space to maintain?
The only things worse than buyer’s remorse are the hidden expenses of owning the wrong house in Sacramento. Here are four common red flags that the costs of living in the wrong house are adding up.
Your Budget is Busted
Eating ramen noodles almost every night in order to pay the mortgage was NOT what you had in mind when you pictured yourself as a homeowner. Is the house more of a fixer-upper than you realized? Did you end up putting more money into house repairs than you originally planned? Maybe this house doesn’t allow for enough entertainment, or maybe your savings are being swiftly depleted thanks to unexpected needs. Perhaps your homeowner’s insurance was more expensive than you thought it would be. These hidden expenses of owning the wrong house in Sacramento can quickly cost you big time.
Neighborhood Issues
Maybe the house does fit your budget, but what about the neighborhood? Do you find yourself shopping in more expensive stores because your favorite (more affordable) chain grocery store is too far away now? Is your drive to work farther away and doubling your transportation costs? These are also some hidden expenses of owning the wrong house in Sacramento.
Utility Availability
Does your new house have well water? When you purchased it, you were happy to avoid high utility bills, but now you realize you are responsible for any well system repair. What if you have to redrill and move the well system? Do you hate lugging around water softener, or having to pay a company to come out and do it for you? Is your municipality planning a utility expansion in your area, and now you have to add another $20,000 to your tax bill over the next few decades? In accessibility to things like wireless internet, water, and other essential utilities make owning the wrong house in Sacramento really stressful.
Structural Issues
Perhaps you love your home and neighborhood… but you just noticed a crack along the floorboard by the front door. Maybe you dismiss it for the caulk shrinking. Then, a few months later, its a little bit bigger… and bigger… is your foundation sinking? Maybe there are new cracks by the windows or new water stains on the ceiling… these are all small indicators that your house might have some structural issues. Also, these are hidden expenses of owning the wrong house in Sacramento.
How to Escape the Wrong house in Sacramento?
Sacramento and California in general have plenty of cash buyers for houses in any shape. These buyers are a great option to get out of your wrong house ASAP, but prepare yourself to accept less than retail price. They will save you a lot of time and hassle by taking the house off your hands. You might be able to restructure your mortgage or transfer loan to another lender. If now isn’t the right time to ditch the wrong house, perhaps renting a room/the house out might be a good idea and sell when the market is best.