After buying a new home there are a lot of costs to consider. To avoid surprises after you get your keys, it's essential to factor these additional expenses into your budget.
Read more: Prepare for unexpected moving costs with Ally Bank’s savings buckets
Post-homebuying expenses to plan for
Keep these nine potential expenses in mind, some of which you may want to tackle before officially moving in:
1. Moving costs
Take stock of potential moving expenses and consider other ways to potentially lower your moving costs. Setting up a savings bucket in an Ally Bank Savings Account for moving costs can help make sure you’re ready for whatever comes your way.
2. Home repairs and maintenance
Picture this: You’ve just cooked your first meal in your new home and have loaded the pots and plates into your new dishwasher. You press start and — nothing. As you settle in and start to experience everyday life in your new place, you’ll probably notice a few areas in need of repairs or maintenance that might not have been caught in the initial inspection. Be sure to take account of any overlooked damage or necessary fixups so you can add the cost into your home budget.
3. Utilities and connection fees
Water, gas, electricity, internet — each of these services will need to be set up in your new home and could come with an activation fee.
As you switch utility services, make note of any changes in your recurring monthly bills to help manage your budget while you settle into your home.
4. Homeowners association fees
If you’re moving into a house or condo that is part of a homeowners association, these charges will need to become a regular part of your budget. HOA fees cover things like care for shared spaces and amenities.
As you switch utility services, make note of any changes in your recurring monthly bills to help manage your budget while you settle into your home.
5. Pest control and landscaping
Depending on how the property was maintained before your move, landscaping and pest control may need to be a top priority after moving in. Keep in mind, prices can vary depending on factors like the size of your home or the type of pest, as it determines the best treatment method.
6. Renovations and upgrades
You want your house to feel like home — and that might mean knocking out a bedroom wall to build a walk-in closet. For all your post-homebuying projects, Ally Bank’s savings buckets can help you financially prepare for the costs to transform the existing property into your dream home.
7. Security systems and installation
Whether you plan to install a doorbell camera or invest in a full home security system, be mindful of the costs of keeping your new home safe.
8. Professional deep cleaning service
It’s often necessary to do a full deep cleaning of your new space before you can settle in. Factor in the price of products if you plan to DIY or the cost of hiring a professional service.
9. New furniture and decor
Upgrading your space? You may need some new furniture or decorations to go with it. With spending buckets in an Ally Bank Spending Account, you can allocate money for your purchases and stick to your budget.
Home sweet home
Preparing for unexpected costs makes moving less of a hassle. With a well-thought-out moving budget and some post-move planning, you can enjoy settling into your new home without the stress.
