Start with the monthly number, end with a price range
First-year ownership costs
The short version
The first year brings costs a payment estimate does not show: moving, furnishing, utility deposits, immediate repairs and possibly a property tax bill that rises after reassessment. Build these into your budget before you set a price ceiling so the payment you choose still works.
Last reviewed against the primary sources listed below.
List them
- Moving and utility setup.
- Appliances and basic tools.
- Repairs found at inspection.
You asked, we answered
Will my property taxes go up after I buy?
They can, if the home is reassessed after the sale.
What should I budget for the first year?
Moving, setup, repairs and possible tax changes.