A planning guide to recurring and irregular costs that come with owning a home. Work through each part below with your own numbers and documents, and keep notes as you go.
Maintenance and repairs
Homes need ongoing upkeep, from filters and gutters to larger items like roofs, water heaters and HVAC systems. Look at the age of major systems during inspections and set aside money each month for future repairs. Older homes and larger homes generally need larger reserves.
Utilities and services
Ask the seller or utility companies for typical monthly costs for electricity, gas, water, sewer and trash. Costs vary by season and by home size. Add internet and any services such as lawn care or pest control that you plan to use.
A planning guide to recurring and irregular costs that come with owning a home.
Insurance beyond the basics
Your lender requires homeowners insurance, and flood insurance if the home is in a special flood hazard area. You can look up flood zones on FEMA's Flood Map Service Center. Consider whether additional coverage, such as for earthquakes or higher liability limits, fits your situation.
Taxes and assessments that change
Property taxes can rise after a sale is recorded or after reassessment. Some areas also have special assessments for infrastructure. Check the county's records and ask about recent changes. Building these items into your budget helps prevent escrow shortages and payment surprises.
Sources
Sources checked 10/23/2026. General education only; confirm current rules with official sources and a licensed lender.