When buying a home, most people focus on the down payment and monthly mortgage. But there are hidden costs that catch many buyers off guard. These include closing costs (which can range from 2–5% of the loan amount), appraisal fees, property taxes, HOA fees, and even moving expenses.
Another big cost that surprises people is maintenance. Unlike renting, where the landlord handles repairs, owning means every plumbing leak, roof issue, or appliance replacement comes out of your pocket. Experts suggest budgeting at least 1–2% of your home’s value per year for upkeep.
For buyers who feel overwhelmed by the financial side, reaching out to trusted professionals can make a big difference. One option is Travis Buys Homes, a company that helps people navigate real estate in ways that save time and money.
Remember, the purchase price is just the beginning—plan for the extras so you won’t be caught by surprise.