67. How Much Does Holding A Property Cost in Natick MA?

We buy houses in Natick MA

We buy houses in Natick MA. Are you holding on to a property and you aren’t exactly sure why? Every day that you continue to own the property, you are spending money on it. Before you hold on to it for another day, consider the below points. It might be time to think about selling your Natick MA home! How much does holding a property cost in Natick MA? Keep reading to find out!

Ask any property flipper and they will tell you this: the faster you make the flip, the more money you will make. Plain and simple, owning real estate costs money. And Natick MA home buyers know that if you are holding on to the property for sentimental reasons or because you “might” use it one day, you are only throwing your money away. The property you own should be working for you NOWIt can be your primary residence, providing a monthly income, or be used for recreational purposes. If your Natick MA house isn’t doing one of these things, it might be time for you to consider the option to sell quickly!

Costs of Holding A Property In Natick MA

Property Taxes in Natick Massachusetts

Property taxes can be high With recent changes to the tax code, they are no longer deductible either. As long as you are listed as the owner of the house, you will be responsible for the taxes on it. By selling your house in a timely manner, you can immediately end your tax obligation for the home.

Natick MA Utilities

Monthly utilities add up quickly. If you were to add up the amount you’ve spent on electricity, water, gas, tv, and the internet you might be surprised at how high that number is. Even if you aren’t residing in the property while selling it, you will still need to keep the lights and the water on for the people who come to see your house. If your property is older and less energy efficient, you are likely to have utility bills significantly higher than what you would find in a new home.

Maintenance & Repairs in Massachusetts

A good rule of thumb for maintenance costs is the one percent rule. This rule states that you should plan to spend about one percent of your purchase price on maintenance each year. For example, if your house was purchased for $250,000, you should plan to spend about $2,500 on home maintenance each year. Of course, these numbers can vary widely, but many investors use this formula to estimate costs.

MA Homeowners Insurance

Natick MA homeowners insuranceThe premium for a homeowner’s insurance policy will vary based on the house and its location. You can expect to pay over $1000 annually for an average Natick MA property.

Mortgage Payments in Natick MA

It can be difficult to come up with a mortgage payment each and every month for a property you don’t want to own. The average mortgage payment nationwide is well over $1000 each month. Some people are struggling to pay thousands of dollars each month when in reality they would be much better off selling the property.

Opportunity Costs in Massachusetts

What else could you be doing with the money you have tied up in the property? You could very well be missing out on a better home or investment opportunity. Look around at what else is out there and decide if you are truly happy with your current situation. If your property isn’t doing anything for you, it might be time to find something new!

Cash for Houses In Natick MA

As you can see, if you sell your house in Natick MA now as opposed to later can help you keep more money in your pocket. For every day you continue to own it, you will also continue having to be financially responsible for it. The bills and maintenance costs add up quickly. Run the numbers for yourself and make the decision that makes the most sense for you!

Are you holding onto a property you aren’t using? We can help! Send us a message or give us a call today! 781-591-0779

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