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In a previous post, I talked about unexpected costs to look out for during the home buying process, but there are also a lot of unexpected cost AFTER buying a house.
There are a lot of expenses when you become a homeowner. Some I was prepared for and some I wasn’t. Here are a few of the expenses that either caught me off guard or cost more than I was initially prepared for.
Expenses AFTER Buying a House
Maintenance/Repairs
Be prepared for maintenance, especially if you buy an older house. When you first move in, there are likely going to be things that will need to be fixed/updated right away. Make sure that you get an inspection on the house and thoroughly go over it. This way you are prepared for some expenses right away or so the current owner can fix things before you buy.
Our house was built in 1901 and we needed to update the electric panel in the basement because they were still fuses, which is not up to code. Luckily my uncle in an electrician and fixed it no problem, but it would have been costly otherwise.
After those initial fixes after moving in, you are now responsible for everything else that pops up. No more calling the maintenance guy in your building to fix the leaky sink, you now have to pay a plumber to come. Or replacing the water heater, appliance, the roof, gutters, fixing stair railings, cracks in the driveways. From little fixes to big fixes, it all starts to add up.
Appliances
In our first home, all appliances were included, but in our second home, they were not. Make sure you know before you buy a house whether or not they will be included. We had to purchase all new appliances and that ended up being a huge expense.
Even if the appliances are included, you never really know what condition they are in when you buy them. You may need to replace them sooner than you think. Some home warranties may cover this expense but others may not.
Changing Locks
You should always change the locks when buying a new house. Just for security purposes and peace of mind. You never know who had keys to the last locks.
You can hire a locksmith to do the job or if you are handy you can do the job yourself. It would be cheaper to do it on your own. Then you only need to purchase the new locks and spend your time. If you hire a locksmith you have to pay for their labor as well as the locks.
Furniture/Decor
Sometimes when buying a home you are up sizing your space. That means there is a lot more space to fill.
We had furniture and decor from our apartment, but it wasn’t nearly enough to fill all the new space we had.
We ended up getting a lot of furniture from family and buying the rest at thrift stores. This helped cut down costs for us, but that isn’t always the case for everyone.
Utilities
In our previous apartment utilities were included, but when moving to a house, you pay for your own water and electricity.
Even moving from city to city, your utility bills may vary. For our first home, we got a water bill once every other month and it cost about $80. At our second house, we got a water bill every month and it was still $80. So the cost of our water basically doubled just from moving.
Our electricity provider also changed when we moved and the cost went up there as well. Luckily I have found several easy ways to cut back on my electricity bill.
Maintenance Equipment
We needed to purchase a lawnmower and a snowblower and outdoor garbage cans. I can’t even tell you how many tools my husband has ended up purchasing over the last year to vary house projects.
You could hire a lawn care/snow removal company and you wouldn’t need to purchase your own equipment, but that is also an expense you need to consider.
Luckily we were more prepared for expenses like these when we purchased our second home. I wish I would have known and been more prepared for these expenses when purchasing my first home.
What were some unexpected costs that came up after you purchased a home?