First Time HOme Buyers
The Hidden Costs of Buying A House
Buying your first home is exciting, but it also comes with a few surprises. Many first-time buyers plan for their down payment, only to discover a range of hidden costs of buying a house that quickly add up. From closing fees to moving expenses and maintenance funds, understanding these extra costs upfront can help you set a realistic budget and feel confident about your next big step.
The Hidden Costs To Plan For:
Costs Before You Get the Keys:
These are the behind the scenes fees that make your purchase official:
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Good-faith deposit: shows sellers you’re serious about the home
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Closing costs: lender, title, and inspection fees
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Appraisals & insurance: confirm the home’s value and protect your loan
💡 Together, these can add 3–8% of your home’s total price, even before you move in.
Costs After You Move In:
Once you get the keys, a few more expenses show up fast:
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Moving and setup costs: trucks, deposits, furniture, and utilities
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Homeowner’s fund: setting aside money for repairs or maintenance
💡 The average homeowner spends about 1% of their home’s value annually on upkeep.
Want the Full Breakdown?
To help make it simple, I created a PDF visual guide that breaks down every major category from deposits to maintenance with real tips and examples.
Download “The Hidden Costs of Homebuying” PDF to see how much to save before you start house hunting.
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These Costs Add Up:
(Percent of Home Price)
%
Down Payment
%
Closing Costs
%
Good-Faith Deposit
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Now that you know the hidden costs of buying a house, you can plan with confidence. Every dollar you save toward closing, moving, or maintenance brings you one step closer to owning a home that fits your life and your budget. With the right preparation, your first home will be financial move you’re ready for.
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Brooke Ricketson
Digital Marketing Student
Hi, I’m Brooke Ricketson, a digital marketing major at Western Michigan University with a growing passion for real estate. I started NewToHomeBuying.com to help first-time homebuyers navigate the process with confidence. My goal is to turn my interest in real estate into a way to educate and empower new buyers through simple, easy-to-understand guides.
New To Home Buying
newtohomebuying@outlook.com
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