Home buyers put a lot of thought into making sure they’ve got the money to cover the upfront costs of buying a home. Coming up with a down payment and the funds necessary to cover closing costs takes budgeting. But there are other expenses that buyers need to consider when running the numbers. In fact, according to one new analysis, there are some fairly common expenses most new homeowners encounter after closing on their house – and they’re ones buyers may not be thinking about yet. According to the breakdown, new homeowners spend about $13,500 on repairs and renovations once they’ve moved in, and an additional $6,500 on furniture, fixtures, and appliances. It makes sense. After all, the chances you’ll find a house in perfect condition, perfectly appointed, and a perfect fit for your existing furniture are pretty slim. So it’d be smart to hold onto some money to make changes to your new place once you’re settled. The good news, though, is you don’t have to do it all at once, or any of it at all. It’s your house now and you’re free to do as much, or as little, as you’d like. (source)
