8 Surprise Hidden Expenses for First Time Home Buyers

8 Surprise Hidden Expenses for First Time Home Buyers

So, you have signed on the dotted line, gotten the keys for your new first home and can’t wait to move in.  You have saved and budgeted for this home purchase and you think you are ready to be first time home owners.  This is wonderful news, but have you given any thought to those sudden, surprise expenses that always seem to pop up after you have moved in?  Have you allowed enough in your budget to cover these expenses?  Here are eight hidden expenses that you may not have thought of yet, but could certainly happen.

1. Changing the locks.  Is your new home new construction so you are the first to own the home?  Then you may not need to get the locks changed.  But if this house has been previously owned by one or more families or maybe even been a rental, then someone probably has a key.  It is a good idea to get the locks changed or rekeyed.  Call around to local locksmiths to get several estimates before moving in so you will know who to call once you are living in the home.

2. Lawn maintenance.  Did you fall in love with the yard when you were looking for your new home?  Did you live in an apartment prior to moving into your first home?  Apartment complexes have their own lawn services so you don’t have to cut the grass, weed, edge, blow leaves or rake.  That is the beauty of living in an apartment.  Maybe you lived at home where dad took care of all the lawn maintenance with his own tools.  Now you have your own beautiful lawn to take care of and you need the tools to do so.  Keep these expenses in mind when house hunting.   Two acres looks beautiful until you have to purchase a riding lawn mower.

3. Multiple appliance repairs and replacement.  Always budget for appliance repairs.  Good idea to ask for a home warranty for the first year from the seller.  A home warranty will save you in the long run if one or more appliances go out.  Even if all the appliances are in working order when you move in, be prepared for the unexpected!  There is nothing worse than coming home and finding that your deep freezer decided to stop working. 

4. Cosmetic upgrades.  Have you priced a gallon of paint lately?  All the upgrades you talked about doing when you were house hunting cost more than what you were anticipating.  Be prepared.  Make a plan as to what you absolutely want to upgrade immediately when you move in and what upgrades can wait.  Those beautiful granite countertops may have to wait another year or two.  Get estimates on flooring, countertops, kitchen cabinets, bathroom remodel and prioritize.  It may take longer than what you were expecting, but it will be worth the wait.

5.  Furnishing the house.  Ok, so I personally have never had all brand new furniture.  When I got married many years ago, my dad called my furniture the “early attic” collection.  Over the years, I have inherited furniture from relatives, bought furniture at resale and consignment shops and even put my office furniture together (with the help of my husband-we almost divorced that particular weekend)  from a box kit.  So what if you have to live with that old sofa that doesn’t quite fit in your new living room or with mis-matched dining room chairs.  Budget and purchase good quality furniture as you can afford to.  It will be fine and you will enjoy the time together looking for new furniture.

6. Window treatments and replacements.  So your new house came with mini blinds.  Did you actually raise and lower them when looking at the house for the first time?  Now you have moved in and the mini blind cords are broken.  Have you ever priced new blinds?  Be careful.  You may go into sticker shock at your local hardware store when you go to purchase new blinds.  Curtains and rods are also expensive.  Someone once asked me did I know the difference between curtains and drapes?  About $1000.00!  You can always hang old sheets or beach towels over the windows in the rooms you are not using until you can afford the window treatments you want.  Purchase as you need if you did not budget enough money to cover all the windows in your new home at one time.

7. Rising property taxes.  Be aware that property taxes can rise dramatically in a year’s time.  Apply for homestead exemption after you move in.  This will help.  Pay attention to the property evaluation card you receive in the mail so you will be prepared for the amount of taxes you will owe in the next year.

8. Tree trimming.  This may or may not be an issue depending on what type of yard you have.  But you need to still be prepared in case you have limbs hanging over the roof or you want to take just that one tree down in the back yard to make room for a new deck.  Get estimates for tree trimming and/or tree removal.  Make sure whoever you hire will also remove the limbs, etc. for you and will clean up after they are done.  If you are having a tree removed, ask about stump grinding.  This may be an additional cost.

All this being said, when you find that perfect home and you just know this is the house and property for you, call The Cummings Company at 251-602-1941.  We can help you from start to finish in the home buying experience.  We can recommend tree trimmers, blind hangers, locksmiths, painters, appliance repairmen, and lawn services.  I can even tell you several good furniture consignment shops in the Mobile and Baldwin County area.  Let us help you make the transition from your apartment or moms and dads house to your new home the best experience ever!  And remember why you fell in love with the property in the first place!