10 Things I Wish I'd Known Before Buying a House

Buying a home will probably be one of the biggest financial decisions you make in your lifetime, not to mention a big lifestyle decision as well.

I purchased a house for the first time in a suburban area of Maine last summer. It's basically my first time living in a house; I had only lived in apartments before then. As a newbie homeowner, there's a number of things I wish I had known -- and probably would do differently if I were to buy another house.

Here are 10 of the biggest ones.

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When you buy a home, it comes with a wide range of expenses. Some will be predictable, such as your mortgage payment, while others will fluctuate, like utilities and maintenance. You should also have an emergency fund for unexpected repairs.

Depending on what part of the country you live in, heating and cooling costs could likely be one of your biggest expenses after the mortgage. Now that it's winter, I was surprised to see my heating costs are $500/month -- with heating oil -- which is maybe double what I was expecting.

If you're not familiar with the local heating and cooling costs, check with your agent, ask the seller, or do some research online. The state government in Maine has a webpage with heating cost information.

It's an important part of your monthly budget, and you'll want to have the most accurate estimate you can get.

ALSO READ: How to Invest in Real Estate: A Complete Guide

It's easy to find a real estate agent based on convenience or a personal connection, but you want to make sure you're a good fit. While you won't be paying the agent directly, the 3% commission that the buyer's agent generally gets is factored into the cost of the home.

You are hiring this person to do an important job, and they'll likely be paid well from a sale. You want your expectations to be clearly communicated before the relationship begins.

It's good to know about the agent's availability, for example. If you call them, when can you expect them to get back to you? How far are they willing to travel to show you a house? When are they generally available? If you're interested in an off-market listing, ask them whether they've had many off-market sales.

You'll want to have a good relationship with your agent, and the best way to do that is to establish clear expectations from the beginning.

If you're serious about buying a home, it can't hurt to try to meet some of your prospective neighbors. They'll know more about the neighborhood than anyone else and might even know a thing or two about the house or the sellers.

Curious about something like traffic or parking? They'll have the answers. Is it a social area, or do people mostly keep to themselves? Neighbors are the perfect people to ask.

It's also worth meeting them to see whether any of them could be your friends. Are they similar in age or much younger or older? Are their politics much different from yours? If you're raising kids, it's definitely a bonus to have other kids next door or across the street.

Don't be too nosy, of course, but if there's an opportunity to have a casual conversation, take advantage of it.

You'll probably hire a professional inspector to examine the house once you've made an offer. Their job mostly consists of examining the safety and structural elements of the house, such as the foundation, plumbing, electrical, any potential water damage, and so forth.

However, when you're in the house, you should test as much of it as you can. Flush the toilets and turn on the showers and sinks. Are the water pressure and temperature good? Open and close all the doors. Do they latch correctly or stick? Are the knobs loose?

These are good indicators of how well the house has been taken care of. While those kinds of issues probably won't be big enough to affect your decision, it's good to know what kind of minor repairs the house will need. If you find that many little things are "off" in the house, the owner has probably been neglecting it.

ALSO READ: Home Inspections for Buyers: Tips & Checklist

There will almost certainly be outdoor space to manage if you're buying a house. You might have a yard, garden, or several acres of woods. If plants are growing near the house, try to learn as much about them as possible. A plant identification app can help you here.

You might be pleasantly surprised to learn that there are fruit bushes or trees on the property. On the other hand, it could be loaded with invasive species that will be difficult to manage. Is the landscaping high-maintenance, or will the yard just need an occasional trim?

While you're out in the yard, it's also worth trying to determine whether you'll be dealing with a lot of mosquitoes or other bugs in the summer months, as outdoor pest control might also be something worth adding to the budget.

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Trees can be blessings or nightmares for any homeowner. They can add beauty and charm to your property but could also require significant maintenance. If a tree branch falls on your house, you're looking at thousands of dollars in repairs.

While examining the trees on your property, take a look at your neighbors' as well. Neighboring trees can block light or a great view, and there's basically nothing you can do about it. They can also be a nuisance for you if you're responsible for raking any leaves or other debris that fall onto your property.

My neighbors have several Norway Maples on their property -- an invasive species that drops multitudes of seedlings every year. That's something you might like to be aware of before you buy your house.

If you have outdoor space, owning a home comes with a whole new set of chores, and -- at least in my climate -- there's a different one every season of the year. In the warmer months, there's a lawn to be mowed; in the fall, there are leaves that must be raked; and in the winter, snow has to be shoveled.

I haven't been here in the spring yet, but I imagine there'll be plenty of planting and spring-cleaning-type things to do.

You can pay someone to do this stuff for you, but again, that's going to be an additional cost you'll want to budget for. If so, you should research the going rates for jobs like lawn mowing or maintenance.

ALSO READ: You Could Save Over $3,500 This Winter With This Home Improvement

If you want to do a major renovation, like a kitchen remodel, you can find price ranges online at sites like Angi. But one factor I didn't consider in a renovation was the legwork necessary on my part.

If you're doing major work on the house, you'll need to find contractors, interview them, make appointments, meet with them to do site visits, and monitor the work being done.

You're responsible for managing the job -- another one of the part-time chores you take on as a homeowner. It's your house, after all, so you want to make sure the work is done right.

Additionally, when you remodel a kitchen or bathroom, you won't have access to it for several weeks or months, which is its own cost in the form of inconvenience.

If you're considering buying a fixer-upper instead of a renovated house, those are some disadvantages you should be aware of going in.

If you've just purchased a new home, congratulations are in order. But if you think you can do whatever with your new property, think again.

Regulations can block a number of improvements you might have in mind. If you're interested in expanding the house, for instance, there may be regulations on setbacks or zoning requirements that limit the size of your home.

Want to rent the house on Airbnb while you're away for a few days? Your town or city might have restrictions on home-sharing (mine does).

You might be considering improving the outdoor space by adding a deck or similar structure, but that could require permitting, such as a survey, which costs thousands of dollars.

It's worth learning some of these local regulations, especially if you have big plans to change your house.

Despite the hassles of owning a home, every time I crunch the numbers, it looks like a much better financial decision than renting.

Nearly a third of my monthly mortgage payment goes to the principal, meaning it goes toward equity rather than an expense, and the monthly payment is only a few hundred dollars more than what I was paying for a two-bedroom apartment in Brooklyn.

While there are additional monthly expenses associated with owning a home, the value you get from owning an appreciating asset -- versus paying someone else's mortgage every month -- easily outweighs those.

Additionally, your mortgage payment is fixed, while rent tends to go up most years. And you can do what you want with your house rather than, for example, having to ask your landlord for permission to paint the walls.

Overall, the advantages of being a homeowner seem to outweigh the disadvantages.

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Buying a home is a difficult decision for several reasons. Not only is it a huge financial commitment, but you're also deciding where you'll live for what could be 10 years, 20 years, or even the rest of your life.

Oftentimes, you don't have long to make that decision. You might have to decide whether to put in an offer within 24 hours of seeing the place. And if you're in a multi-offer situation, it's going to be even more stressful.

That's why it pays to do as much research as you can ahead of time. Find the right real estate agent and get to know the area you're looking in. Getting as much information as you can will help increase your chances of making the best decision for you and, ultimately, being satisfied with the home you purchased.

Jeremy Bowman owns ANGI Homeservices Inc. and Airbnb, Inc. The Motley Fool owns and recommends Airbnb, Inc. The Motley Fool has a disclosure policy.