Are you ready to begin your journey to becoming a home owner? If you are, you’ll quickly realize how important it is to save and plan your budget. You’ll want to consider all costs connected to purchasing a house, especially the ones most people forget.


Once your offer is accepted on the home of your dreams, you’ll need to get it inspected.

Your inspector will look at everything—from appliances and plumbing to the foundation and roof. They will also note concerns, which could manifest in the long run.

Once you receive the inspector’s report, consider what you need to get repaired—from the minor repairs to the larger, like structural changes.

At this point, you and the seller can negotiate the price, closing costs, and repairs needed. Helpful tip, you can ask for as few or as many repairs as you would like. Keep in mind, the seller is not able to back out of the offer, but they can refuse to make the repairs.

If you are not comfortable with how the negotiation is going, consult your realtor. As the buyer, you also have the option to drop out of the purchase, before the deal is finalized.

Repairs can seem annoying. Keep in mind that this step could wind up saving you a lot financially.

Bringing Cash to the Table

When making an offer on a house, many buyers provide earnest money to show they are serious buyers.

What’s earnest money? It’s a deposit for your down payment and closing costs. More importantly, it shows sellers you’re willing to front money for the house.

If you do find something wrong with the house during the inspection, don’t worry. In most cases, you’ll be able to get the cash back.

couple moving


You already know moving can be time-consuming, but it can also exhaust your finances­—if you don’t plan ahead.

Although you can hire professional packers, you can save lots of money packing yourself.

Save time during the move itself by making sure you are fully packed. Every box and item of furniture should also be clearly labeled. Creating a color-coded system complete with labels and a map will show your movers where everything goes.

Take the time to review a moving calculator to get an idea of how much your move will cost.

Immediate Costs           

Congrats, you moved into your dream home! A week later, your kitchen sink starts leaking. No worries—if you applied the advice in this article or can move your current budget around.

Start building a small savings fund dedicated toward minor repairs. Knowing you have a budget to cushion those pesky repairs, will give you a peace of mind.

luxury kitchen

Furnishing & Appliances

When you get your dream house, you’ll want to decorate it perfectly! From new furniture, décor items, and home accents, purchasing all new items becomes tempting.

You can have the home of your dreams while keeping your budget intact. Just pace your purchases! Splurge for a couch your first month but make a smaller purchase (like an accent table) the next.

Also make sure to check out furniture warehouses and discounted home décor stores to make the most of your budget. Sites like Wayfair and Living Spaces make decorating fun and budget-friendly.

Still have questions about these costs or your home loan? Contact your local Mortgage Consultant to discuss.