Purchasing a house is a great success, providing keys and freedom to paint and use your new space. Unfortunately, this excitement soon turns to anxiety as bills, many of which aren’t easily identified, start to arrive. These unexpected expenses become part of owning a home. They don’t all come at once, they come slowly, one at a time, much like a subscription service you’re not prepared to receive; while each expense machine appears normal on its own, together they add up really quickly.
Things Go Bad with Appliances
In a short time, appliances will be out of order. A dishwasher that you used to just run, no longer runs. If you are independent and are okay with putting things together, you can fix appliances; if you aren’t, you will be paying somewhere between hundreds to thousands of dollars to a technician for repair.
Heating and Cooling The HVAC Is The Most Common Type of Equipment To Have Inspected
Heating, ventilating and air conditioning (HVAC) systems aren’t made to last a lifetime without regular inspections and service. Homeowners now have that expense on top of their utility bills and other fixed costs.
Improving Your Home Is Not Optional
There is always something that requires fixing or changing in your home, regardless of whether or not anything is broken. Just painting one room in your home can cost a lot of money. By conducting the painting work yourself, you can save money; however, you must purchase all of the materials that you will use. Also, hiring a professional to do the job will cost considerably more than it would if you were to do it yourself. Regardless, you will spend money for either method.
Lawn Care Has Become A Way Of Life
Most grass will grow continuously. There are so many things that go into caring for grass, such as: lawn mowers, trimmers, fuel, maintenance on your equipment, as well as paying someone else to handle the upkeep of your lawn if you don’t want to do it yourself. Your lawn is never going to stop demanding your time or your money—sometimes it will demand both from you.
Furniture Reality Check
As your house gets bigger you will end up with a number of empty rooms. An empty room will simply beg for furniture. This has created a scenario where your extra guest room and dining room and all of your additional couches that you thought you might like to have become a necessity; rather quickly, what was once an accessory becomes an item that you need to furnish those empty rooms with.
Uninvited Guests: Pest Control
Once you have your new home, it doesn’t matter if you just moved in or if you have been living there for years. Regardless of whether or not you have experienced any pest problems, it is always best practice to do preventive pest control measures. For many people, it has become part of their routine to regularly maintain their home for any types of pests. There are other ways to control pests, but the two easiest methods are to use preventive sprays and seal off cracks in your home. There are many options for pest control that will save you a great deal of money, and give you peace of mind as well, but they will still require some amount of investment and expenses to implement.
The Small Stuff That Isn’t So Small
Rug(s), doormat(s), or floor mats are often overlooked until they are needed throughout your home. The above categories of products can be very inexpensive when purchased one at a time, but the total cost of using them in each room of your home can become expensive over time.
Seasonal Preparations
In cool climates, sprinklers must be winterized. If you do not winterize, your pipes will likely burst. If you are capable of winterizing your sprinklers, it is a good idea to do it yourself; if not, hire a professional. Both options have associated costs.
Yard Maintenance Beyond the Lawn
Mulching, hedging for privacy or aesthetics, planting and maintaining trees, as well as having the various lawn maintenance tools (lawnmowers, weed whackers, etc) are more than just “mowing.” If your yard is full of plants, watering and fertilizing will be ongoing efforts.
Utilities
Having additional space will increase your overall heating/cooling/water/trash costs. Utilities, once included in rent, will be billed separately at rates that generally are higher than you expect.
Largest Hidden Surprise
All property taxes on homes will increase as the home appreciates in value. Even though property taxes may be included in your monthly mortgage payment, increases in taxes can put you in a position of unpleasant surprise. Year over year, property taxes increase somewhat surreptitiously.
To afford a home, you need to be able to manage the unexpected and ongoing expenses that arise after you’ve become a homeowner. None of these expenses will prevent you from being a homeowner, but all should be accounted for in your financial planning.
Be aware of the fine print of owning a home; read it thoroughly.
