First Time Buyer's Need To Know These 5 Unexpected Expenses

If you’re planning to buy a house soon, there are several other things to consider than just the down payment and moving costs. Here are the typical expenses that many new buyers don’t expect to spend money on:

Utility & Transfer Costs

Just like when you’re a renter, there are charges that utility and service companies will bill you for. Whether you’re installing a new connection or just relocating the service, expect to pay for these if you want to have the lights on and water running.

Home Appliances

If your home came with appliances, that’s great! Before you close, you should make sure that they are functioning properly or else you may be in for some repairs. It is always a good idea to budget for at least one appliance replacement.

Property Taxes

Check out the regulations in your area for property taxes as this amount can vary from state to state. You can also look at the past tax records of the property, too.

New Locks

This one is a safety precaution that you should definitely take! You may not know who has copies of the keys other than the homeowners, so it is best to add in the cost of replacement.

Cleaning

If the last owners of the home cleaned the house before they left, there is still more than likely going to be a layer of dust and dirt. You can definitely clean the home yourself, but know that it is a lot of work especially on top of unpacking. Consider hiring professional cleaners before you move in to help ease the stress.

Lights

You probably did not think that you should count in the cost of replacing light bulbs, huh? If the last owners have not changed the bulbs in a long time, you can expect to pay a couple hundred dollars for these!

Upgrades

You just moved in and now you realize how much you hate the color of the walls, the closet space, or even the pattern of the flooring. Save some extra money for these changes so you can make some of these updates and fully enjoy your new home.

We definitely have more to add to this list, but what are some things that you did not expect to spend money on when you bought your first home? Let us know in the comments!

Source – FifeFreePress.com