Buying a new home is a whirlwind, whether it’s your first house or your dream upgrade. The countless details and deadlines take up mental space, no matter how ready you are for your next step. In the process of preparing a budget for their next home, buyers have to take into account not only the purchase price but also various other line items in the list of closing costs.
The fact is, the costs of buying a home don’t end at the closing table. We coach our buyers to try to resist being blinded by the “finish line” of closing and instead to budget beyond that. These are the top five things that many home buyers don’t budget for after closing — but should!
Lawn and Landscaping Tools
One rude awakening that comes with homeownership in Colorado: no matter the season, you’ll need lawn and landscaping tools. If you’re making the transition from a townhome, condo, or apartment, the budget required for all necessary lawn and landscaping tools might cause some sticker shock.
Depending on the size and details of your yard, you’ll likely need to budget for the following lawn and landscaping tools:
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A lawnmower
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A string trimmer
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A rake
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A snow shovel
You might also need gardening gloves, shears, a leaf blower, an aerator, a wheelbarrow and several other items — it all depends on your home’s unique landscaping and your level of involvement outdoors.
Indoor and Outdoor Furniture
Finally upsizing? Remember to set aside some of your home-buying budget to add furniture to your new home, both indoors and outdoors. Furniture can cost anywhere from a few hundred dollars to multiple thousands of dollars depending on the space you’re filling, your personal style, and your preferences.
Do a bit of browsing as you nail down your home buying budget to determine what it would cost to fill a new home with furniture you truly love. That way, moving in and purchasing furniture will be another exciting step rather than an unpleasant surprise.
Window Treatments
Many homes are sold with the window treatments like curtains and blinds included, but some are not! If you’re purchasing a flipped home or a brand new build, you will likely be responsible for purchasing and installing your own window treatments.
This means you’ll have the freedom to choose the exact style you want for your home, but it also means there will be an additional cost right away to make your home move-in ready. While you can take your time adding furniture to a new home, window coverings are an essential aspect for living comfortably, so budget to add them as soon as possible.
Safety Items
From home security systems and new locks to fire extinguishers and smoke detector batteries, keeping your home safe also requires a bit of an up-front cost. For the most part, these items don’t dent the budget as much as furniture or a lawn mower might, but it’s still helpful to browse your options in advance and include these items in your overall home buying budget.
Cleaning Equipment
Moving into a new home often means getting used to a new flooring type, more space, or different fixtures than you might have had before. As you budget, remember that you’ll need to purchase cleaning equipment specific to your new home. That might mean you need to invest in a trusty vacuum or high-end cleaner to maintain your original hardwood floors, or it might simply mean expanding your collection of toilet brushes and sponges.
Developing and sticking to a thorough and accurate budget can take tons of stress out of the homebuying process. When you’re ready for post-closing costs like these, you can transform your first few weeks in your new home into an exciting and smooth experience rather than a stressful whirlwind.
We’re here to make the homebuying process as smooth as possible, from guiding you through these budget details to walking you through the contract. Reach out with any questions at all!
