NewsfromSFAR
On owner utilities, maintenance... What is the real cost of homeownership? There are those one-time expenses, such as appliances, furniture and remodeling. Will the appliances need upgrading either now or in the near future? Don’t forget to check out the water heater, along with the heating, ventilation and air-conditioning systems. How about furniture? Moving from a one-bedroom apartment to a threebedroom house often means that you will need more furniture. Evaluate furniture needs and costs for your new home. Before purchasing a home that needs remodeling, ask a contractor to give you an estimate. It’s usually the ongoing expenses that surprise first-time homeowners. Principle, interest, taxes, and insurance (PITI) If you have a fixed-rate mortgage, the payment will remain the same for the life of the loan. Taxes and insurance may increase.
Homeowner association fees Fees or assessments for a condo, townhouse or single-family home with an association can increase yearly. Compare fees of similar properties line-by-line. Check what the fee includes; for example gas, electricity, garbage pickup, and water. Watch out for special assessments for capital repairs and improvements to common areas. Exterior maintenance Replacing the roof, painting the siding or trim, repairing stucco, sealing the driveway, sealing the deck, gutter cleaning or repair, septic system and well maintenance, and window replacements are just some of the additional exterior maintenance costs in owning a home. Some jobs you can do yourself, but others require professionals. Don’t forget the tools that go along with home maintenance: power washers, compressors, heavy-duty ladders, and power tools.
Interior maintenance If you’ve been renting, your landlord probably picked up the tab for repairs and general maintenance. Once you own your home, you’ll be footing the bill. You will need to maintain appliances, plumbing and electrical systems, carpets, floor and wall coverings, and so on. Utilities If you are renting, you’re probably used to budgeting for utilities. But the cost of heating an apartment can pale in comparison with the bills for an entire house. A Realtor can help you find out about the current occupant’s costs, but family size and usage will impact those numbers. Transportation Costs Don’t forget to calculate transportation costs whether by public transportation or your own vehicle. Be sure to budget for gas, oil, insurance, tires, and regular maintenance. Will you need to purchase another car to take care of all of the family’s transportation needs?
PA C O A R G U ELLO
Home ownership is important to families and our local economy. Across the country, families are benefiting from federal programs that help not just homeowners, but also their loved ones and communities. And right now, Realtors are working hard to protect these programs in an effort to make ownership more affordable for more Americans every day. Paco Arguello is chief executive of the Santa Fe Association of Realtors. Contact him at 982-8385 or paco@sfar.com.
WaterenergyNexus
Getting used to the new normal Those of you who have been paying attention to our rainfall over the last few years know that it has not been normal. The monsoons have been later and lighter and as has been our winter precipitation, for the most part. Although I appreciated getting my vegetables in the ground earlier this year, they required much more watering than normal. Regardless of whether you want to call it climate change or just a local weather pattern, the weather is changing. To illustrate this point, I went back over the past decade and pulled the records of our annual precipitation. I noted the average as the midline and then plotted the actual above and below that. Normally our annual rainfall comes in a bit above or below our average of 13.55 inches, but the last eight out of 13 years we have witnessed a steady drying trend. The average over the past decade is about 0.5 inches below our long-term average. Those bygone years of 14- and 15-inch rains would be really great now, given that 2012 was a very dry year and hopefully not the start of another 2000like, five-year-long, below-normal event. 40
M ar c h 20 1 3
HOME
Outside irrigation is the water use most directly affected by diminishing rains. When less water falls from the sky we must increase outside watering of plants. This means we can either A) pay more monthly to keep our existing landscapes or B) adjust our landscapes for a new, drier normal. While option A may seem a viable solution, it is short-term at best. As the climate becomes drier, water prices will increase even more (due to more
pumping, more processing, and buying up more water rights at ever-increasing amounts). Given the expense of our local water, I highly recommend the latter alternative. Just like a dripping faucet, it will not fix itself and will cost more and become more annoying over time. There are a myriad of local landscape professionals who can discuss with you how to landscape properly for drier climates, thus allowing you
D O U G PU SH A R D
to change over time, and save both money and water. Conserving water will save you money while also positively impacting the environment. As a friend recently mentioned, “Live simply, so others may simply live.” Doug Pushard, founder of the website www.HarvestH2o.com, has designed and installed residential rainwater systems for over a decade. He is a member of the Santa Fe Water Conservation Committee, a lifetime member of the American Rainwater Catchment Systems Association, and an EPA WaterSense Partner. He can be reached at doug@HarvestH2o.com.