Move in Ready?
“Move in Ready” or “Move Right in” is a common headline on many listings (guilty as charged). But what does that really mean? It may indicate the home, although dated, doesn’t need any major repairs other than cosmetic upgrades. Or in some cases, it means the home has been decked out with new paint, maybe a kitchen/bath remodel, updated flooring, lighting, windows, etc. But in either case, the spending is by no means over once the sale is closed. The down payment and mortgage payments are just the beginning… Affectionately referred to as “the joys of home ownership”… the expenses that come along with furnishing and maintaining a home are worthy of thoughtful consideration when you are deciding on buying a home. This article offers great insight into what Buyers buy after moving in…
What Do Home Buyers Buy after Moving
Source: National Association of Home Builders via CAR.org
Furniture, appliances, and remodeling projects are among the biggest expenses for new homeowners, who spend an average of $10,600 in the first year of home ownership, according to a recent analysis by the National Association of Home Builders. New owners spend an average of $3,778 on furnishings alone, according to NAHB’s analysis. Here are a few common expenditures recent home buyers made:
Living room chairs and tables: $687
Dining room and kitchen furniture: $345
Window coverings: $215
Appliances (particularly washers and dryers, lawnmowers and other yard equipment, and computer hardware and systems): $3,094
A survey conducted by Home Innovation Research Labs shows that two-thirds of new homes built in 2015 came with no washer or dryer; 36 percent had no refrigerators. Most new homes, however, did come with cooking stoves, ranges, and ovens.
Source: Terra Firma