If you are receiving unsolicited phone calls from an entity pretending to be ACCC (a trusted non-profit credit counseling agency), please be assured that ACCC’s policy is NEVER to contact you unless you’ve explicitly requested us to call you. Also be cautious of emails from an unusual or unfamiliar domain. ACCC’s domain extension is @consumercredit.com, and any emails using a different extension should be treated with suspicion.

×

ACCC’s Client Login allows current clients to access their program information, including the due date, program benefits, and other documents.

Select a Client Login below based on the service that you are currently enrolled in:

Debt Management Program

Client Login

Not yet a client, but looking to get started?

ACCC offers debt relief options to individuals and families that are suffering from stress related to credit card debt by providing effective credit counseling, helping to consolidate debt, and advising on debt management.

Get Started

Wait!

You are now leaving the Consumer Credit website and are going to a website that is not operated by ACCC. We are not responsible for the content or availability of linked sites.

Are you sure you want to leave?

No, return me to the previous page.

Yes

Unexpected New Homeowner Costs

Buying a home is likely to be among the most daunting decisions in one’s life. You link yourself up to numerous financial obligations just as you accept the keys to your new home. A home comes with a great deal of responsibility and a lot of costs. Down payment, closing costs, insurance and tax costs, and mortgage cost are few of the more significant financial elements in the home buying process. However, most often we tend to overlook the hidden and surprising costs that come along with being new homeowners. Managing all these expenses is challenging and can have a major impact when paying off debt. Here are some homeowner costs you may encounter.

To avoid debt, plan for homeowner costs ahead of time.

To avoid excessive debt, plan for homeowner costs ahead of time.

Unexpected New Homeowners Costs

Understanding some of the surprise cost elements is important for managing your budget. Here’s a few that might go unnoticed.

  1. Lawn maintenance. When we were house hunting one of the things that was in the “must have” list for us was a decent sized yard. And when we eventually found what we liked, the costs started to follow suite. From purchasing a lawn mower or hiring a lawn service, to maintaining irrigation systems and the associated costs. These are just a few things to consider.
  2. Changing the locks. This may seem like a minor expense compared to all that money you already spent buying your home. However, smaller expenses add up faster than we think and are essential to keeping your home secure.
  3. Multiple appliance repairs and replacement. The kitchen with all appliances is a big selling point when buying your new home. But repairs and replacements are inevitable. It may come sooner or later. However accounting for such emergency costs is crucial in your home buying process as such costs are significant.
  4. Cosmetic upgrades. Once you buy your dream home, it is normal to customize your space with cosmetic upgrades to your liking. It can be in form of window treatments, painting the walls, or refinishing your floors. These cosmetic upgrades can turn out to be much more expensive than we assume. Therefore, including these costs in a contingency budget is a good idea.
  5. Furnishing the new home. Unlike the times you rented, this is where you actually want to put in a deeper effort into decorating your home. This is not necessarily a cost that you think of including into your budget. However, from a bath mat to your dining table, your home decor costs will add up quickly. Planning for these is essential.

Once you get the keys to your new home you begin a whole new chapter in your life. The thing to remember is that everything that you dream of in your new home can come slowly and steadily. Make sure you include these homeowner costs into your budget and plan ahead. See if you can DIY a few things and manage the costs. Debt management can be challenging, but not if you plan your expenses ahead of time.

If you’re struggling to pay off debt, ACCC can help. Schedule a free credit counseling session with us today. 

ABOUT AUTHOR / Dilini

Dilini is a Marketing Communications & Programs Associate at ACCC. To anyone, managing finances can be a real challenge! Any tips and tricks to help get through this are great! Dilini will share her experiences, tips, and tricks along the way through the Talking Cents blog. Stay tuned!

View all author posts →

creditU

Your Ultimate Money Management App

Meet CreditU, the ultimate one-stop debt and financial management app! See your full financial overview, including debts, income, expenses, and savings.

CreditU Apple App Store
Dev Tool:

Request: blog/unexpected-new-homeowner-costs
Matched Rewrite Rule: blog/([^/]+)/?$
Matched Rewrite Query: post_type=post&name=unexpected-new-homeowner-costs
Loaded Template: single.php