If you are buying your first home, chances are you are stretching your savings to the max. Depending on your situation, you may have some other initial expenses to consider:
- Moving expenses
Whether you’ll be hiring a moving company or renting a truck and asking friends for help, there are likely to be moving expenses.
- Renovations or repairs
Can renovations or repairs be delayed, or are some necessary to do immediately?
- Condominium Fees
Do you have to make the initial payment for these monthly fees?
- Service connection fees
Telephone, gas, electricity, cable TV, satellite TV, Internet, and so on, may charge service connection fees. Some utilities may ask you to pay a deposit.
Does your new homecome with appliances? Do you already have your own?
- Gardening equipment
Will you need to buy gardening equipment the first summer in your new home?
- Snow-clearing equipment
Will you need to buy snow-clearing equipment the first winter in your new home?
- Window treatments
Do blinds or curtains come with the house?
- Decorating materials
Do you want to re-paint or apply wallpaper? Do the floors need to be refinished or re-carpeted? Do you have all the tools you need for decorating?
- Hand tools
Do you have the basic hand tools you’ll need for your new home?
Will you need a dehumidifier to control moisture levels?
Check out this short video to learn more about home buying costs that you may not know about.