Oahu Real Estate - Chapter 5 - Costs and Commute

Now more than ever, deciding on a place to call home demands that you grasp finances on several levels, your personal situation and the home financing guidelines currently applied in the market. As the topic is large, we will cover it in a series of posts so that it is most clearly outlined. Where does your money go? A mortgage or rent payment may be the largest single destination as your funds leave the bank account, but there are many smaller stops along that path which add up quickly and must be considered when creating a sustainable budget plan. You must have a full understanding of your financial health before committing to a move. Be honest with yourself and when uncertain, lean towards a higher number when factoring expenses and a lower number when determining net incomes and savings potential. There are many good financial calculators that you can use as a starting point, but none will be more assuring than a planning session with your CPA or experienced financial adviser. One of the things that can have a hidden impact on expenses is transportation. The further you live from work and frequent activities such a school, shopping, and entertainment, the more of your budget will go towards gas and auto maintenance; not to mention the greater percentage of time required to accomplish these tasks. Try http://www.commutesolutions.com/ to get a good idea of how such costs will affect your budget. Also look at http://htaindex.cnt.org/ for a far more in-depth exploration of the housing-transportation connection.