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Warren County Ohio Real Estate News and Observations

Unexpected Expenses For First Time Homebuyers

info for home buyersWhen you transition from renting a place to owning your first home there are some expenses you know to expect:

  • Mortgage
  • Utility bills
  • Taxes
  • Homeowner's Insurance
  • HOA fees
  • Furnishing your home  with those items you KNEW going in you were going to change immediately (paint, carpet, etc.) 
  • Appliances not supplied with the home (washer/dryer/refrigerator?), connector hoses, etc.

But with home ownership also comes some expenses you might not have expected, so here's a heads up of other expenses to expect, some soon after move in, others in the following years:

  • Locks rekeyed or replaced.  Who knows where all the keys are from the original homeowner?  Relatives, friends, dog sitters, all might still have a key!
  • Lawncare.  Unless you're going to pay a service, you're going to need some fundamentals:  lawnmower, gas can, rake, shovel, hoses, wheelbarrow, trimmers, etc. And you might need a shed for all that stuff (assuming you're not in an HOA that won't allow a shed).
  • Landscaping.  Now you've got the tools for lawncare, are you going to add flowers and shrubs?  How about some mulch?
  • Budget long term for major mechanicals.  Some day your furnace and AC might need replaced.  Water heaters fail too.  Basically anything mechanical can fail (sump pump, garbage disposal, etc.).  Have a plan and be ready.
  • Home maintenance.  Some are big ticket and don't happen often (e.g. roof reshingled, windows replaced, exterior painting), but when they do they're not cheap.  Other things are more routine and less expensive:  caulking, deck staining, a touch up of paint here and there, replacing a broken shutter, burned out light bulbs, etc.
  • Making your home a home.  Those personal touches.  Changing paint to colors YOU want.  Rugs for the floor.  Curtains.  Artwork/pictures for the walls.  They add up even if you're a total DIYer.
  • The "well who'd have thunk that category" stuff!  We foster cats regularly.  We once had a mom cat staying in our master suite.  Who'd have expected she'd decide to gnaw on the sink faucet handles and scar up the finish?  2 x $47 plus shipping and handling to replace the pair.  Life happens!
  • Tools.  You want to have some basics for the stuff that comes up around the house.  Screwdrivers, wrenches, pliers, saws, hammer, basic ladder, that kind of stuff.  Over time you'll probably add more and more, but if the kitchen cabinet hinge gets loose you want to be able to tighten it up, right? There's no landlord to call!
  • Government fees.  For instance in our area there's a permit fee for septic systems.  It's not big, but it's there.  And your pups?  There's an annual license fee for them too. 
  • Planning for a fence?  Might be a good idea to get a survey prior to placing the fence.  You don't want to find out later that you're 1 foot into the neighbor's yard.

 

Other questions about buying or selling Warren County area homes?  We're easy to reach at 513-520-5305 or email Liz@LizSpear.com.

Serving Warren County area home buyers and sellers,

Liz and Bill aka BLiz

 

Serving Warren County Ohio & Adjacent Areas


The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS

William (Bill) Spear, CRS
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Direct:  513-520-5305
Direct #2: 513-265-3004     
Fax: 866-302-8418

MailTo:  LizSpear@Go-Concepts.com

Search Homes:  Http://WarrenCountyOhioRealEstate.com

Our Website:  www.LizTour.com

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Unexpected Expenses For First Time Homebuyers
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