A. Remember it is all about your monthly payment so make sure you are buying a home that will have a monthly payment in your comfort zone and fits within your budget. You do not want to be house poor and you still want to go out with friends, buy food, save for your future, go on trips, buy clothes and pay for your utilities.
Other housing costs include condo and HOA fees (these will be considered by the bank when determining what you can afford), utilities, any and costs to maintain the home or home improvements. Average monthly utility costs can be found by calling your local utility (BGE – 410 685-0123) and the Condo/HOA dues and any Front Foot/Water/Sewer charges will be disclosed by the seller. To help you determine average maintenance costs, your home inspector should be able to provide you with estimates or you can search the web for sites that provide averages.