This article discusses the actual costs of home ownership. The actual cost is often more than the sale price. Along with your mortgage, you can expect upfront and ongoing expenses. Closing costs, homeowners association fees, property taxes, utility bills and repairs add up up and are often overlooked.
Align your expectations and avoid financial woes by understanding the common expenses associated with buying a new home. Budgeting for additional monthly expenses — and establishing an emergency fund — will help ensure your new home is also affordable.