What to Save for When You're Buying a Home - Aspen Houses for Sale
If you’re like most people, you know you need to save up money to buy a home in Aspen – but there are more things to save for than just a down payment.

What You Need to Save Before You Buy a New Home

Before you buy a new home, you’ll need to save up a down payment. However, you’ll also need cash for:

  • Mortgage payments
  • Insurance
  • Taxes
  • Closing costs
  • Homeowners association fees

Mortgage Payments

Each month, you’ll have to pay a set amount of money to your lender to pay back the loan you took out to buy the home. (Your payments will be the same for the term of your loan if you have a fixed-rate mortgage, but they can change – usually yearly – if you have an adjustable-rate mortgage.)

Homeowners Insurance

You’ll have to carry insurance on your new home. Not all insurance policies are equal – you’ll have to pick your coverage, which will affect your monthly payments.


Everyone has to pay property taxes. Many lenders hold money from your mortgage payments to pay for taxes at the end of the year, but not all do, so you’ll have to check before you sign the dotted line so you know how many checks you have to write.

Closing Costs

Closing costs can include:

  • Attorney’s fees
  • Title fees
  • Insurance
  • Mortgage premiums
  • Discount points
  • Credit check fees
  • Underwriting fees
  • Other fees

Homeowners Association Fees

If you’re buying a home in a community with a homeowners association, you’ll be responsible for paying dues. The dues vary by neighborhood, but they typically cover the maintenance of common areas, security, and other community features.

Are You Buying or Selling a Home in Aspen?

Call us at 970-429-8275 or get in touch with us online to tell us what you want from your next home. We’ll begin searching Aspen real estate listings right away. If you’re selling, get your free Aspen real estate market update and find out how we can help you sell your home quickly and at the best price.
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