Forgotten/hidden costs of first time new home ownership

by fawningandconning

  1. Closing Costs
  2. Warranty/Inspection/Homeowner’s Insurance
  3. Catastrophe Insurance
  4. Flood Insurance
  5. Furnishment Costs
  6. Moving Costs
  7. Property Taxes
  8. Increased Utility Costs
  9. Possible HOA fees
  10. Capital Gains taxes (if you sell within 2 years)
  11. Emergency Fund for the House (I don’t care if it’s brand new, things break)


  • Lawn Mower, edger, blower, gas
  • Costs for using sprinklers
  • Yard and lawn maintenance like mulch, seed, fertilizer, etc.
  • Snow Blower
  • Shovel
  • Trash, recycling, or yard waste fees
  • Improvements like paint, lighting fixtures, new carpet, etc.
  • Random replacement of things like sump pumps, garage door openers, garbage disposals, etc.
  • Decorations