My clients are often concerned with all the payments directly related to purchasing a home: mortgage rates, tax payments, and what they can afford. Everyone is concerned with staying within the budget. However, there are other expenses home buyers often forget about or are just unaware of. If they are not considered, there could be some serious consequences to the home purchasing process.

When buying a home here are some of the other expenses to always consider:

Buying costs such as buyer’s agent fee, an appraisal in order to confirm a reasonable market price for the property, property inspections, and a real estate attorney to review the contracts. Also keep in mind that you may owe the previous owners for property taxes they have already paid and possible homeowners association fees.

Moving costs can amount to major expenses for packing, storing, and moving possessions as well as yourself and your family. Those costs can be rather significant.

Utilities such as phone, electricity, gas, water, and internet also need to be budgeted for and could cost more than you are currently paying, especially if you are moving to a larger home.

Keep in mind any new purchases that need to be made such as appliances or furniture, again especially if you are moving into a larger place.

Maintenance and renovations may need to be done on a new home. This could be anything from cleaning gutters to driveway repairs to paint jobs. Any plethora of fixing and repairing could be necessary and costly.

Insurance is another cost to consider. This could be homeowner’s, private mortgage, or title insurance. These costs are worth it as they provide protection, however the costs can add up to thousands of dollars.