From lender fees to maintenance costs, know every expense before you buy with our home buyer cost checklist.

For most buyers, the primary focus is on saving for the down payment and securing a favorable mortgage rate. But once the purchase process begins, many are surprised to discover that homeownership costs extend far beyond the sale price. Understanding these expenses upfront can help you budget wisely and avoid stress later on. Once you look beyond the list price, you’ll see a series of additional costs that can significantly affect your budget.

Know the upfront fees. When you apply for a mortgage, you’ll encounter several one-time costs that can add up quickly. Lender fees, title insurance, and attorney’s fees often total thousands of dollars. You’ll also pay for inspections and an appraisal to confirm the home’s condition and value. And if the inspection uncovers issues the seller won’t fix, you may need to handle those repairs yourself before or soon after closing.

Don’t forget the moving and setup costs. Once the deal closes, the spending doesn’t stop. Moving services, new utilities, furniture, and minor upgrades all add to your budget. Even small expenses like window coverings or replacing locks can become significant when combined.

“Knowing your full homebuying budget upfront helps you avoid stress, shop confidently, and enjoy your new home from day one.”

Plan for ongoing ownership expenses. Owning a home means recurring costs that renters often overlook. Property taxes typically rise each year. Homeowners insurance must be maintained, and if your neighborhood has an HOA, expect monthly or quarterly fees. Then there’s maintenance: from HVAC servicing to landscaping and appliance repairs, all of which require consistent planning and attention.

Why full budgeting matters. When you understand the total cost of buying and owning a home, you can make informed decisions, shop confidently, and protect your long-term financial stability. The goal isn’t just to close the deal; it’s to ensure that you can comfortably manage your new home after you move in.

If you’d like a detailed breakdown of what to expect, I’ve created a Homebuyer Cost Checklist that covers every expense step by step. Reach out to me directly at 312-437-7799, email [email protected], or visit sohailrealestate.com to request your copy. Understanding these costs now can help you move forward with clarity and confidence and make your new home truly yours.

Realtor, Chicago & North Shore — a top real estate expert serving Chicago, the North Shore suburbs, and the West suburbs of Chicagoland.