Post-Purchase Costs Buyers Should Expect | “Your dream home, guided by a local team you can trust.”

As you take the exciting step into homeownership, it’s important to look beyond the down payment and closing costs. From our experience guiding clients through their first year in their new homes, we’ve seen how expenses for repairs, furnishings, and appliances can catch many by surprise if they aren’t prepared. Did you know that newly built homes typically come with higher post-purchase costs—averaging $26.9K in the first year, compared to $18.7K for existing homes? Appliances and household equipment alone can add up, with average spending at $4.3K for new builds and $3.7K for existing homes. Furnishing your space can be another substantial investment, especially with new construction—averaging $8.3K, versus $3.9K for existing homes. Alterations and repairs often make up the largest first-year expense: $14.3K for new homes and $11.1K for existing properties. As your mortgage team, we believe that understanding these numbers empowers you to plan ahead and protect your budget. Helping you anticipate the full picture of homeownership is just one way we strive to serve as your trusted guides through every step of the journey.