What expenses surprised you the most as a new homeowner? What advice would you give to someone who is anticipating a home purchase?
Replies sorted oldest to newest
Realize how much property taxes affect your monthly mortgage
How good it feels to own my place!
Also how willing I am to repair things once I can no longer call my landlord.
The best advice I can offer someone thinking of buying a house for the first time is please make sure you can afford the house you want. Don't let the realtor or whoever talk you into buying more house than you can comfortably afford.
It is an awesome feeling to be able to own my own home.
Expenses: The only thing that is expensive that I need to replace is the clothes washer (used), which just died three days ago, it came with my home when I bought the place last year.
Here come the Home Warranty and Solar companies! Everybody wants a piece of your wallet.
Honestly the taxes. We live in Florida, and our taxes aren't horribly high like up north, but they are still high (in my mind). Also, our homeowner's insurance went up by about $750, and our mortgage has gone up about a $100 per year due to increases like this and increases in our taxes. We have a Homestead Exemption, but it still adds up.
In my first home, I was surprised at how many projects there were ... never gave much thought to painting the walls as when you rent that isn't something you just change on your own, never questioned electrical system - until wanting to put in hot tub, never questioned heating system - until wanting to add central air.....some projects were DIY and other required professionals....
Recurring taxes (city/county), evaluations, increasing homeowners taxes, etc.
...and the work never stops on a home. There is always something to do.