4 Expenses I Wish I Had Saved Up for Before Buying My First Home

Don't forget expenses beyond a down payment and closing costs.

When you're buying a home, many expenses will come up. Most people think about closing costs, down payments, home insurance, and property taxes. But in addition, it's worth it to consider the costs that may come your way after you move into your home. Here's what I wished I had saved up for before buying a home for the first time.

1. Lawn care equipment

If you're going from renting to buying, you may not have been responsible for handling yard maintenance at your previous properties. No landlord is there to help when you own a house. Instead, you're accountable for taking care of your property, including keeping your yard in order.

Since my husband and I only ever rented properties where the landlord handled the lawn care, we didn't own a lawn mower, weed whacker, leaf blower, or any other piece of equipment that we'd need at our new house.

That meant that we needed to invest in these tools and equipment. We bought these items slowly over time since we hadn't set aside money for these costs before we bought our house. If I could do it over, I would have budgeted for and saved up for these costs first.

2. Appliances

Many homes have all the appliances you need to live a comfortable life. You may later decide to upgrade them but can get by without doing so right away. But sometimes, your new home may not have all the necessary appliances that you prefer to have. Our home had washer and dryer hookups, but the previous owners had taken their washer and dryer to their new home.

Luckily, this is one expense that we did plan for in advance. We spent a little over $1,400 on a brand-new set, with delivery included. I shopped around and got the best deal on what we wanted, but it was still an extra expense. New appliances can be pricey, and if you need to buy them soon after you move in, you'll want to budget for these costs in advance.

3. Outdoor furniture and decor

If you're planning to buy a home with a patio, deck, or another area that you want to turn into an outdoor entertainment space, you should consider how you will furnish it. If you don't own outdoor furniture and decor, that's another expense you may want to plan for before you close on your home. When we started making our patio space a comfortable place to spend time with friends and family, we quickly realized it wouldn't be cheap.

4. Repairs and maintenance costs

Before buying, we had our home inspected. While our furnace was older, it operated during the inspection process. A couple of months after closing, we needed to replace it, and as you can imagine, that came with an expensive bill and impacted our personal finance situation.

We knew that repairs and maintenance costs would pop up -- but we didn't think we would need to replace our heating system so soon. Setting aside extra money for potential repair and maintenance costs before buying a home is best. If an unexpected issue occurs, you'll have the cash you need and won't be at risk of going into credit card debt.

Save now to reduce your stress later

If you're saving up to buy a home, keep your money in a bank account that earns interest so you can boost your savings without extra work. Most checking accounts don't earn interest. Don't have a savings account? These are the best high-yield savings accounts.

As you plan to buy a home for the first time, don't overlook additional expenses that may come your way. You want to ensure that your home is comfortable and ready to enjoy once you get settled into the space. Are you starting to explore the mortgage lending process? Here's a list of the best mortgage lenders.