If you've ever checked the prices of Cincinnati new construction patio homes (or ANY type new home for that matter), you've probably quickly discovered that the builder's love the "starting at $xxx,xxx" but that price is often significantly less than the final price after all the desired options are added.
But once you get to that final price, is that all there is to it?
Well, there's a few more things to consider.
First of all, what is the HOA fee and what do you get for that fee? We've seen fees as cheap as $50/month and others over $400/month. Those payments can add a significant dollar amount to your monthly payment.
And of course there are real estate taxes. Depending on cost of the home and location (e.g. Kentucky property taxes are generally cheaper than Ohio property taxes), that's another sizable payment to make twice a year. Now the good news? It usually takes the government 6 months to a year to catch up on assessing full value, so you WILL get a tax break initially.
And like every home, there are utility bills to be paid. More good news? Builders of new patio homes are good about energy efficiency, so your heating and cooling bills should be very reasonable.
A one time charge that comes with new construction patio homes is a "capital contribution charge". Basically it's a fee that defrays the cost of development, and the cost varies. We've seen mid 100s to almost a 1,000 dollars.
Now if you're buying new, the cost of maintaining your patio home will be minimal initially. They're almost always built of low maintenance materials, but you may still need the occasional paint touchup, and some years down the road your water heater will need replace, your furnace will need some maintenance and yes, many years down the road you might need the roof reshingled.
So before you make that final decision to sign on the dotted line, let's make sure you understand all the charges to expect with your new patio home.
Ready to find out more about your new construction patio home options in Greater Cincinnati?
Step 1: Contact us at 513-520-5305. We are NOT the builder's rep, we work for you and ONLY you! Also important, DO NOT contact the builder first directly or we may be blocked from assisting you. It's critical that we introduce you to the community firsthand. Even if you want agent assistance, the builder can refuse to compensate your agent if you make first contact without your agent.
Step 2: Let's determine which home community is the best fit for your needs. We work with ALL Greater Cincinnati home builders! And since Bill is licensed in BOTH Ohio and Kentucky, he can help you with ANY area home community (regular homes, patio homes, condos and any other name the builders choose to use!).
Step 3: We'll contact the builder's rep and coordinate appointments and any future activities with the builder.
Further questions? Just contact Bill at 513-520-5305 or email Liz@LizSpear.com.
We look forward to helping you with your new home needs!
Liz and Bill aka BLiz
Serving Warren County Ohio & Adjacent Areas
The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747
William (Bill) Spear, CRS, Ohio License SAL.2004011109 Kentucky 77938
Ask for us by name if you visit the office!
Two locations: Lebanon & Mason, OH
Bill Direct: 513-520-5305
Liz Direct: 513-265-3004
Search Homes: Http://WarrenCountyOhioRealEstate.com
Our Website: www.LizTour.com
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