Costs of Owning: How to Help Clients Avoid Unexpected Costs

Buying a house takes a lot of work, not only in the initial process, but after it is all over, as well. Some clients may not be aware of the costs that loom in the distance or the maintenance that may have to be done on parts of the home upon buying it.

In fact, studies have shown that the two top areas of concern among new homeowners are the ongoing maintenance and upkeep costs that new homes entail. For the most part, people with these concerns simply are not aware of the extent of expense that these add up to.

But what can you do, as a real estate professionals? Homeowners have stated that they wish they had known how much some of these expenses would be before buying them. Because of that, it is important that these costs be disclosed before any clients actually sign a contract. Although this may deter them away from making a definite decision right away, it is better for clients to know up front exactly what their responsibilities will be as homeowners.

Being honest with your clients will also help you establish a level of trust with them, which can lead to referrals or more loyal business in the future. Clients appreciate an agent who is blunt with costs, and who won’t beat around the bush when it comes to explaining exactly what you’ll be getting yourself into.

Once a client begins to show interest in a home, it is best to find out what the current owners are paying for maintenance and upkeep (if possible) and let your client know right away. For some people, the amount of that expense may make or break their decision to buy – and they will appreciate having the opportunity to decide before it is too late.