The Little Things Add Up When Moving In(Congratulations on buying a new house which will almost instantaneously become your new home (the term home has a more emotional attachment).)
You have found a way to manage all the fees besides the hefty down payment including loan web costs, closing fees, lender and agent fees.
Now all you have to do is move in and enjoy the peace of mind that accompanies homeownership, right?
The article, “Forgotten costs of Moving In” posted September 27, 2006 on topnycapts.com, explains how just when you thought all your moving finances were taken care of, you forgot that you are moving into a completely empty house.
Imagine signing all the papers, saying goodbye to your neighbors and arriving at your new abode only to discover that you cannot see the keyhole because you need to buy a new light bulb to go over the front door.
“Thus begins the first of many unexpected expenses of owning your first home. It may sound ridiculous, but there are many little things that people don't think of when they are moving into a new home and how daunting it can be to have to extra expenses that you didn't count on.”
Usually when people buy a house, they try to buy the biggest, nicest one they can afford. They know they shouldn’t but if they just eat out once a month and shop at the market that offers double coupons, they should be able to make it. This is a nice theory but you may not even make it through the first month if you do not take in account addition expenses or own a hardware store.
“For example, let’s say, a newly married couple who moves from their two bedroom apartment in New York City to a four bedroom house on Long Island. They didn't think to bring a mop and broom because their apartment was carpeted and the new house has hardwood or tile floors. Sounds silly doesn't it? But those small items, if you don't already have them, can add up quickly.”
And these little expenses are difficult to plan for. While making a list of every little thing you will need things come up in and around the house that you never needed before, so of course you do not have them.
If you never had a yard before, you may need to buy a hose, rake, lawnmower, etc. In the house, you may need an extension cord or putty to fill in old cracks.
The more common things to make a list of or to keep in the back of your mind before spending all your money on the housewarming party are: “Having to change the locks on all your doors including garage and exterior basement doors as you don't know who may have a key.” “Possibly having to paint interior walls, as you may realize that after the former owners have moved out, they don't look as nice as they did when you first looked at the house.” “Making sure that you have basic tools such as a hammer, pliers and a screwdriver.” “Having extra utility bills such as garbage pick up or water. This is a must to remember for former renters as such things were usually included in the rent.” “Extra cleaning supplies like garbage bags and paper towels. Extra light bulbs, batteries, flashlight and a first aid kit is always good to have. Put all these things into one box so that you don't end up searching the multitude of other boxes that you brought with you.”
Now, if you forget about these things, you will probably not have to foreclose the home but you may have to cancel that camping trip or sell your tickets to the baseball game.
It is best to always plan ahead as much as possible.
Back to Articles | 
