What To Budget for When Buying a House

Home Budget

For an average family, getting to move into their own house is a dream come true. This definitely brings great joy to all the members. However, buying a new home can be a huge investment. In fact, it is one of the largest purchases you will ever make. This is why it is extremely important to be well researched, especially when it comes to budgeting. Here are some first time home buyer tips to help you know what to budget when buying a new house.

Create a Prior Home Budget

Before looking for a house, sort out how much you can spend without going broke. Break down the type of budget depending on how much you are willing to spend on different aspects of the home. You can try buying a house calculator online to find more accurate estimates of how much you may have to spend.

Go Big on The Down Payment

Buying a house is not just paying off your deposit and mortgages each month. There is much more to that. And believe it or not, the small thing can add up, costing a lot more than you thought. Hence, we suggest you put down more cash as the initial deposit. It reduces the amount of your monthly mortgage.


It’s important to figure out how much you can spend on other household items like amenities, furnishings, and other facilities.  Wondering about how much should you budget for household items?

Here are a few things other than paying for the downpayment, mortgages, and fixed costs that you should keep in mind:


  • Closing costs: this expense comes in the form of different fees like attorney fees, lender charges, property taxes, etc. This will be around 3-5% of the total cost of the house.
  • Utility installation fees: whether it’s your water supply line, electricity supply, HVAC system, gas, or internet, they do require a one-time installation fee.
  • Inspection cost: it is important to hire a home inspector to find underlying or potential problems in the home you are about to move in.


Buying a new home can be complicated and strenuous. This why finding a well-reputed and trustworthy agent will make the process way easier. Looking for your buying your forever home in Colorado? Our experts can help you find what you are looking for within your budget!

Factors that are Considered in Designing and Building Houses

Designing and Building Houses

Designing your own house can be really exciting as you get to bring all your visions to reality. While the idea of it sounds really fun, it can get pretty complicated once you get started with the task. There are many factors that need to be considered in designing and building a house, to have aesthetically pleasing yet functional results.

Here are some of the house designing factors we think you should keep in mind before you get hands-on with it:

Ensure You Have The Right Location

The location of your house is one of the biggest factors to add value to your property. You can build the most extravagant house with all the modern amenities. If it’s in a remote area, it will lose its resell value in the long run. Not only that, It is always better to buy houses in locations that are closer to schools, grocery stores and hospitals as it makes your everyday life much easier.

Consider Your Budget

Know your needs while designing your house so that you can allocate your budget accordingly. Is this going to be your forever home? Or do you want to sell it in the future?

Are you someone who loves to cook and wants the best kitchen appliances? Or someone who wants to build the ultimate man cave? We suggest you budget according to your priorities rather than just letting your home builder determine it for you.

The Direction of The House

This factor probably hasn’t even crossed your mind, but it matters quite a bit. The direction your house is facing is key for letting sunlight and wind in. A dark home needs more artificial lighting, which means you are wasting more power. A home that gets enough natural light and ventilation is energy efficient.

Size of The House

The size of the house is extremely important as it will be your family’s safe haven. We suggest you to design with your family so that everyone can share what size of rooms or space they need to live comfortably. Extra storage space is also extremely important.

Designing the house program can be difficult when you are not experienced in this field. But, the whole process gets much easier with the help of experts. You can reach out to us through our website for design consultations at river-valley.co.