10 Expenses to Budget for When Buying a Home Featured Image

When preparing to buy a new home, you must also consider the additional expenses that usually arise after closing. To avoid being surprised by a big expense, smart homeowners plan for these costs ahead of time. 

Moving Expenses

Once you’ve chosen your new home and gone through all the documentation, you still need to move out of your current house. Some people may only have a few boxes to transfer to their new house, so they choose to move themselves, using either one of the rental companies like U-Haul or calling on a friend with a pick-up truck. Normally they also enlist the help of friends and family to do the heavy lifting. Other people choose one of the moving services that provide a shipping pod, which is loaded with your household goods and then delivered to the new address for unloading. However, if you have a lot of stuff (kids anyone?), you may need the services of a moving company. These companies can provide full-service moving, with packing service, insurance and timed delivery of your goods. Moving costs can range from as little as $100 to several thousand dollars, depending on the amount of goods and the distance traveled. 

Condominium Fees

New homeowners may also have to pay condominium fees, if you're moving into a condo that has an association. These may be prorated for the portion of the year that you will be moving for, but you need to check your paperwork for the details. Condominium fees vary widely between communities and across the country. Generally, fees range from $200 to $800 monthly, depending on community amenities. 

Window Treatments

Odds are you will need to purchase window treatments for your new home. In some cases, window blinds, shades and other coverings may be left behind by the previous owner, but what are the chances these go with your decor and personality? The amount you put aside for replacing window treatments is a personal decision. Some people prefer very simple window coverings. Items such as sheers, simple blinds, or café curtains can be quite inexpensive. Other people prefer more formal window treatments. These coverings are generally custom made to fit each window and may involve fabrics to match other furnishings. Custom made draperies can cost several thousand dollars for each room. 

Service Connection Fees or Deposits

Utilities such as electricity, gas, telephone, Internet and cable TV connections may require a connection fee or deposit for service. These expenses can range from less than $100 to several hundred dollars. Talk with your service provider, sometimes they wave these fees!

Additional Furniture

If you have purchased a bigger house, you will probably require more furniture to fill up the additional rooms. Bedroom sets, family room furniture or dining sets are common items that should be purchased for new homes. Outdoor furniture is another item that many people buy to enjoy and entertain in their new backyard. The price of furniture can vary widely, depending on your needs and tastes. 


The home you purchased may have old, outdated appliances that are unsightly and not energy efficient. You may wish to replace these with updated models, for better function and cost efficiency. Appliances can cost thousands of dollars, so do your comparison shopping. 

Repairs or Renovations

Some homes come onto the real estate market having undergone a complete makeover in preparation for the sale. However, other houses may require either small or large repairs to make them serviceable for the new owner’s needs. Repairs may be small, such as loose handrails on the porch or replacement of carpeting. However, other homes may need a kitchen or bathroom renovation. Planning for these costs in advance can help you get the project done quickly and accurately. 

Property Maintenance Equipment

New homeowners also find that they must make an investment on equipment to maintain their new properties. Items such as lawn mowers, snow blowers, garden equipment, hoses and ladders are needed to keep your new home looking well maintained. Make sure you add these items to your budget.

Hand Tools

If this is your first home, you will find that you must also purchase small hand tools to help you maintain both the interior and exterior of your property. These generally include a hammer, screwdrivers of various types, fasteners, electric tools and a number of small items that are commonly used in the average home every day. 


If yours is a newly constructed home, your landscaping may be included in the total cost. However, you may want to add a few additional items that suit your individual needs, such as a small ornamental tree to provide privacy at the home’s entrance or a few flowerbeds to create a homey feel. If you have purchased a pre-owned home, the landscaping might be mature but may require trimming or updating to create a more contemporary feel. These expenses can add up quickly, so it’s a good idea to plan for them in advance of your move. 

Don't let this list throw you off! You may not need new furniture or window coverings; maybe the appliances in your new home are perfect. This is just a list of things you may not have accounted for. And a lot of the fun of a new house is making it your own - adding personal touches and turning it into a home.

Photo credit: stock.adobe.com

Posted by Terry Paranych on


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