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How Much ‘’Extra’’ Money Did You Need When Buying a House?

Buying a home is probably one of the biggest purchases you will ever make in your life. After a conversation with friends over the weekend as we visited them on their new purchase, we began to discuss how expensive those first few weeks after moving in really are.

When we bought our house, we were somewhat prepared for the additional costs, but like our friends, we weren’t prepared for how much the bottom line ended up being.

Things we Remembered to Consider

Outside of costs associated with the actual house buying process, we were also prepared to buy the following:

  • Paint for rooms
  • New locks
  • Various furniture
  • Lawn mower/rake/shovel
  • Garbage can
  • Some home linens (more towels, hand towels for bathroom, sheets for new bed etc)

I say prepared but in all honesty we hadn’t done near enough homework on what exactly these things were going to cost us, just that we needed them. We set aside some money and hoped for the best. We were more than a little shocked when we went to buy new locks for the house and came to find out even cheap exterior door knobs could be close to $100 and paint quality and price is hugely variant. It was a big wake-up call to go to our first store, spend close to $700 and still not have everything we needed.

In the first few weeks there were many other things that crept up and we ended up buying, putting us well over the budgeted amount we set aside. Things we needed which didn’t factor in were:

  • Vacuum (not sure how this got through the cracks)
  • New broom/mop
  • Window treatments (the previous owners left some (which were hideous) but not all rooms were equipped)
  • Light fixtures and CFL bulbs
  • Paint supplies (over and above what we previously considered)
  • Our first Costco visit….we may have been a little overzealous with this one.

It was so long ago now that I honestly forget just how much more everything was but I know we spent way more than anticipated and this past weekend our friends were explaining their same experience.

Preventing it From Happening Again

If all goes well, we will be moving in the next two to three years. We were initially aiming to place our house on the market for late 2021/early 2022, but with baby 2.0 on the way it will likely delay us until end of 2022/early 2023 as I will be spending a year on maternity leave, but we haven’t yet figured the numbers out yet so we’ll see.

When we move, not only will we be much, much, more financially savvy, we will do way more homework to prevent another huge budget buster from happening again. It will also help that we will be moving from one house to another house with most things a house would need, where in move number one we moved from a small apartment to a house and were hugely unprepared.

Read also: Avoidable Mistakes When Buying Your First Home

When we look to buy our next house, we will have much more knowledge which will help. I plan on spending a few hours walking through the house before we even put an offer in, itemizing everything that we will want or need. I will do this with every house we consider since initial money needed may be the deciding factor.

Houses are expensive and sometimes I wish we didn’t have one but at the end of the day I really do love having a home of my own where my family can put permanent roots down and create some great memories.

Were you unprepared for your first home purchase?

AboutKara

I’m a writer, new mom and foodie. I love sharing what I know while making others feel beautiful. On this blog, I share my healthy lifestyle, simple meals, fitness tips and experiences.

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