Purchasing Space

Purchasing property is one of the largest investments you will ever make. If you plan to purchase, complete the Annual Expenses (Individual) and Annual Expenses (Business Organizations) worksheets, which will help you to identify the upfront financial investment associated with buying real estate.

Keep in mind that these worksheets are only a first step. You must explore other chapters of this manual in order to better assess your purchasing power, and to learn about the many options and assistance programs available to you. Chapters 8-12 offer detailed information on financing real estate purchases and various ownership models.

When thinking about ownership, consider the property's annual operations and maintenance costs. Completing the worksheets for this chapter will help you to estimate these costs, as well as purchasing and moving expenses.

If you have a particular property in mind, use the actual numbers provided by your real estate agent, the property owner or the seller’s representative. Chapters 17-22 provide information on the many costs associated with leasing or owning a space.