Buying a home is a major milestone, but many new homeowners are surprised by the costs that follow after the sale is complete. From setting up essentials to managing bills and repairs, unexpected expenses can quickly add up. Planning ahead helps you stay in control and enjoy your new home with confidence.

The hidden costs of settling in

After moving in, it’s common to face a wave of small but necessary purchases. Furniture, appliances, broadband installation, and everyday items like curtains or kitchenware often aren’t included in the sale. These costs can stretch your budget if you’re not prepared. The Reeds Rains First-Time Buyer Guide offers helpful advice on budgeting for early expenses, including financial preparation and what to expect during the move. Decorating and personalising your space also comes with a price tag, so it’s worth prioritising what matters most and spreading improvements over time.

Managing ongoing expenses

Monthly costs can vary significantly from your previous property. Council tax bands differ by location and property type, and older homes may come with higher energy bills. Reviewing your Energy Performance Certificate and comparing utility providers can help you manage these expenses more effectively. The Reeds Rains Mortgage Services page provides access to tools and advice to help you plan ahead. Home insurance is another key cost, and adding contents cover or emergency protection plans can offer peace of mind. If your home is leasehold, ground rent, service charges, and management fees will be on the listing. These are often billed quarterly or annually and can be easy to overlook, so make sure they are noted in your budget.

Planning for the unexpected

Even well-maintained homes can present surprises. A boiler service, roof repair, or plumbing issue might arise within the first year. That’s why it’s smart to set aside a contingency fund, ideally 1-2% of your property’s value annually, for maintenance and emergencies. Keeping a seasonal home maintenance checklist can help you spot issues early and avoid larger costs down the line.

Looking for more advice on settling in or planning your next move?
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