Even the most organized first-time buyers can be caught off guard by expenses they didn’t expect. Understanding these costs early prevents stress, budgeting issues, and last-minute surprises.

Here are four commonly overlooked expenses every new buyer should plan for 👇

1️⃣ Closing costs add up quickly

Closing costs are above and beyond your down payment — and they must be paid on or before possession.

✔️ legal or notary fees

✔️ land transfer tax

✔️ insurance + adjustments

✔️ inspection and appraisal fees

Set aside about 1.5% of the purchase price to cover these costs comfortably.

2️⃣ Utility bills may increase dramatically

Moving from an apartment to a townhouse or detached home often means higher usage and higher bills.

✔️ heating and electricity rise in larger spaces

✔️ no more landlord-covered utilities

✔️ cable and internet may increase

Ask family, friends, and your realtor for realistic monthly averages in your area.

3️⃣ Renovations and updates are almost guaranteed

Even if the home is move-in ready, repairs and improvements will come up eventually.

✔️ inspection helps prioritize repairs

✔️ set money aside monthly for future work

✔️ cosmetic updates can add value and comfort

Unexpected repairs are much less stressful when you plan for them.

4️⃣ Maintenance is ongoing — and unavoidable

Homes require regular upkeep, and costs vary depending on age, size, and condition.

✔️ gutter cleaning and roof maintenance

✔️ furnace, HVAC, and duct servicing

✔️ plumbing, electrical, and drywall fixes

Annual maintenance budgeting prevents financial strain and protects home value.

💬 Final Thought

Buying your first home is exciting — but planning for the hidden costs will keep that excitement from turning into stress. When you budget realistically and leave room for surprises, homeownership becomes far more manageable and enjoyable.

If you want help estimating true ownership costs or reviewing your affordability, message The Frontline Mortgage Group and we’ll walk you through everything step-by-step.