5 Expenses to Anticipate as a New Home Owner

Source: Thinkstock

Source: Thinkstock

Whether you recently closed on a new home, you are about to close, or you are still looking, the process of purchasing a new home is exciting and fun. You know to expect the cost of the home itself, as well as the closing costs, but there are other costs to consider as well. If you’re lucky, the previous owner left the appliances and window furnishings, but if you are buying a new house, or a house without these items, you will have to buy them yourself. Even if you are renting you might need to provide some of these items. Purchasing a new home or putting down a lot of money for a deposit for a rental can leave you feeling that your financial situation is as tight as it can get, but don’t forget to include the following five expenses into your budget, or you might end up with expenses that you can’t pay for.

1. Moving expenses

Moving expenses can add up, especially if you have a lot of stuff or you are moving to a different city or state. Even if you are moving within the same city or town, moving expenses can get expensive. If possible, do as much as possible yourself. Get boxes from local retailers who recycle them. Pack everything yourself, or ask for help from friends. If you can get away with using your truck or borrowing one from a friend, make multiple trips across town instead of renting or hiring a moving truck. If you are in healthy shape and can move the items yourself or with friends, do it. It will certainly be a hassle, but doing more by yourself will save you money.

If you need to hire professional help, still try to do as much as you can on your own first. One of the biggest expenses that people forget about is travel expenses, which might come up if you are moving to a different state. Hopefully if you are relocating for a job, you can ask for relocation costs to be included in your job offer. Otherwise you might be facing packing, shipping, moving, and other expenses, including gas and hotel.