9 Homeowner Expenses Address Scoop
Mar 15, 2022By Joe A.

Buying a home is an overall positive experience for many. However, outside of paying a mortgage, there are quite a few other significant homeowner expenses that a potential homeowner needs to consider before deciding to purchase a home.

Below are the top 9 most common large home expenses. Suppose you are looking to purchase your first home. You might want to look over these housing expenses and the main bills you have to pay before determining your budget.

New Homeowners USA List 

Article Sections: 
Home UtilitiesCleaning Supplies
Homeowner InsuranceOptional Extras
Property TaxSafety Items
Indoor And Outdoor Decor/Furniture
Bonus: KIDS



In most cases, a person’s largest bill is their mortgage payment. A mortgage payment not only includes a monthly payment of the portion of the cost of the purchase of the home, but it also can include things like taxes, interest rate, etc. A mortgage payment will also vary in price depending on how long the loan term is. 

Tools such as monthly mortgage calculators can help homebuyers determine what exactly they can afford and how long of a loan term they will need. 


Home Utilities 

Home Utilities Address Scoop

Reputable sources such as move.org say that the average homeowner should expect to pay around $400 a month on utilities. 

Utility expenses are often higher than most people expect. There are many types of home utilities. However, there are eight that are far more common than others. 

The eight most common utility expenses include:

  • Water

  • Gas

  • Internet

  • Cable/Streaming Services

  • Garbage Disposal/Recycling

  • Electricity

  • Landline Service

  • Sewer Service

Being honest about what utilities are considered necessary will help any potential homeowner determine their utility expenses every month. 


Homeowner Insurance 

The average American will spend well over $1,000 on homeowner insurance every year. Homeowner insurance is expensive but completely necessary. Various things determine how expensive a person’s homeowner insurance will be, such as location and house size. 

Homeowner insurance covers the most common things inside and outside of the home and the home itself. 


Property Tax

Property Tax Address Scoop

Taxes are not fun and property taxes are no exception to that rule. 

Property tax costs homeowners thousands of dollars every year, and it is an expense that won’t go away, even long after the mortgage on a home is paid off. 

While this homeowner expense isn’t everyone’s favorite, it is 100% mandatory. 


Indoor And Outdoor Decor/Furniture 

If you are buying a home, the chances are that appliances are included. WHEW! That’s a big chip off of anyone’s shoulders.’

However, home decor and furniture typically aren’t included in a purchase of a home. 

Decorating and furnishing a house is a personal experience. Each person has a unique taste and vision of how they want their home to look and feel. Decorating and furnishing a home is a huge expense, one that never really fully goes away as furniture needs to be replaced and decor becomes outdated. 



Maintenance Repairs Address Scoop

Home maintenance and repairs can be expensive and even unpredictable. A homeowner should always save at least 1% of the value of their home to the side for any home repair/ home maintenance. 

If used, the homeowner should do their best to replenish the 1% savings to have something available if new repairs or another sort of maintenance on their home needs to be made. 

Many home repairs can be done by the handyman in the house. However, the tools and parts needed for the repair can be expensive, which also needs to be considered. 


Cleaning Supplies/Costs  

Owning a home is a lot of work. Part of the work that goes into taking care of a home is cleaning it. It’s not the most fun thing to do, but it also is necessary. 

The average person spends about $50 a month on cleaning supplies- this price can be higher depending on the supplies purchased. For example, some homeowners opt to buy more natural cleaning products- which come with a higher price tag. Others hire someone to clean for them- which typically costs over $100 (often hundreds of dollars) per cleaning.  

Optional Extras

Extra Home Expenses Address Scoop 

There are always hidden extra expenses that every homeowner should expect based on the location and their lifestyle. For example, someone might want a pool. Pools are a lot of maintenance and can cost a mini fortune to maintain. Perhaps the internet isn’t strong in a specific neighborhood, and a signal booster is needed. These “extra” fees can add up quickly. 


Safety Items

A crucial part of owning a home is keeping it safe. Below are some common safety items and why they are essential to have in the house

Common safety items:

  • Smoke alarms to detect if there is a fire in the home and notify residents immediately. 

  • Fire extinguishers to help extinguish a small fire. 

  • Flashlights for if the power goes out or for areas of the house that are dark at night. 

  • First aid kits for any sort of minor injury.  

  • Night lights to help see at night to help prevent injury. 

  • Carbon monoxide detectors help detect carbon monoxide and alert people in the home to remove themselves safely. 

  • Home security system to alert people in the home of potential intruders. 

  • Baby/child proofing items to prevent babies and little children from accidentally harming themselves. 

Disclaimer: The above list is just an example of some (but not all) essential safety items for the home. Please do more research if you aren’t sure what you need to keep the residents of your home safe before moving in. 


Bonus: Kids

We’ve added KIDS as a bonus expense because not every homeowner has them, but they can create many extra costs in the household. 

Not to say that they aren’t worth it. I am just stating facts. 

 Kids can purchase movies on cable without their parent’s permission, overfill pools, ask to change the paint color in their room every six months, clog the toilet, and even break windows. Having kids can create extra household-related expenses that one would not even think of when purchasing a home. 

While most people don’t consider kids as a homeowner expense, they sure are as they break things, always want to change things, and rack up utility costs. If children are something that a homeowner has or could see having in their future, they may want to consider all of the extra financial responsibility of raising a child. And I’m not even counting the non-household-related expenses. Diapers are expensive!


Final Thoughts

Owning a home financially means more than just paying the mortgage. The above expenses are ones that most homeowners have to take into consideration when purchasing a home. 

However, there are many other expenses to consider beyond the ten categories listed above in this article. Owning a home and everything that goes with it and creating a friendly and safe living space takes a lot of financial responsibility. 

It is always essential to create a budget when making big purchases that involve taking out a loan. When creating a budget, including extra bills that come with the territory of owning a home will help determine what a homeowner can and cannot afford.