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Yep, you might have a few of these. If you're moving to a condo or townhouse, or perhaps a home that's a part of a homeowner's association, make sure to investigate upkeep expenses and assessments. Whilst you are at it, ask to get a record from the previous 5 years of price hikes. You would like to possess a sense of whether or not you're going to face a lot greater assessments going forward.

In case your new location is appreciably smaller sized, make space inside your spending budget for inevitable new purchases, like replacing an oversized sectional or king size bed that will not match inside a cozier location.

And do not neglect that whenever you sell, you will possess the 6% or so sales commission (assuming you personal your present house), plus the price from the moving van and all of the other charges related with schlepping your possessions to a brand new location.

Bottom line: Operating the numbers is important. Tot up the annual price you presently spend for ongoing costs; as you begin buying to get a smaller sized house, get estimates for what these expenses could be in the new location.

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