Buying a home, big or small, rural or luxurious, is a huge freaking accomplishment.
If you find yourself there or are aspiring to get there, feel proud of the fact that your hard work is going toward something that is no small feat.
All that said, buying a home is an arduous project. There's not a lot of transparency, and it's socially seen as a weird thing to talk about. Many times, people don't know what to expect until they're going through the process themselves.
As a result, a lot of little details come up that people aren't anticipating, simply because no one talks about the process. It can cause a lot of confusion if you don't know what's reasonable or not, and in some cases, it can even cost you a deal.
I've been there, and I hear you, and I'm here to talk some of the mystery out of that process. I scoured Reddit to see what costs and fees snuck up on people while buying homes so you can be in the know.
1.Find out what property taxes are like in your desired area.
2.Putting down less than 20%? You'll need Private Mortgage Insurance (PMI).
3.Closing costs can be a pretty penny.
4.Mortgage companies can under or overestimate your taxes.
5.Get a good look at the pipes.
6.Congrats on closing, now change the locks.
7.Those little things you think you can ignore may get to you down the road — and cost you.
8.Painting/wallpapering/etc. costs more than you think.
9.So does lawn care/landscaping.
10.And if you have sprinklers?
11.Expect the unexpected. Things that work when you first try them can break down.
12.The full cost of utilities is no joke.
13.The cost of keeping yourself going through the process is something to consider.
14.Time is a huge hidden cost that most people don't consider.
Of course, there's even more that will vary by your location, down payment amount, different incentives available to you, and more. Point being DO YOUR HOMEWORK!
Have any stories of things we missed here? Enlighten those on this journey in the comments.