When you buy a fixer-upper home you expect it to cost money to be able to bring it up to modern standards. Likewise, when you buy a house that’s ready to move in there are expected costs to update it or add your personal touches. Everybody knows that things are going to be expensive when you buy a house so they often plan out a budget.
However, it’s hard to budget when there are expenses that you didn’t expect. When buying a house there are some things that don’t get considered that do cost some money. In this article, we will go over several unexpected expenses that you will likely face when you buy a new house.
1 – Short-term rental
Things don’t always go according to plan when you buy a house. This is especially true if you’re buying a fixer-upper or building a custom house. Coordinating different workers is difficult so there is always a delay in moving in.
This means that you will be staying with friends or relatives for a short time or staying in a short-term rental unit. Depending on how long the delay is, you could be staying there for a month or more. This is going to add to the cost of buying the house that doesn’t usually make it onto the spreadsheet when you are planning out the expenses.
2 – Extermination services
Older houses almost always have some pests lurking there that were not seen during the walk-through or home inspection. Old houses generally have a lot of holes where creatures can get in and cause trouble in the house. From squirrels in the attic to bedbugs all over, there is most likely going to be a need for an exterminator.
It may not cost a lot initially, but sometimes there are follow-up visits to really get the problem under control for good. It can end up costing hundreds of dollars or more to have the issues properly dealt with so you can live in the house. For instance, bedbugs are very difficult to get rid of and will require many follow-up visits so you aren’t dealing with that particular problem for years.
3 – HVAC replacement or repairs
Another issue that is easy to miss during an inspection is the state of the HVAC system. This is because nobody is likely to check if the air conditioner is working when you buy the house in the winter. Likewise, checking the heater during the summer doesn’t usually happen.
Even if the HVAC system appears to be operational, there’s a good chance that the previous owners may not have conducted regular maintenance for an extended period. To ensure its continued functionality, it’s advisable to hire a technician for routine maintenance tasks such as cleaning the ducts and replacing the filters. If the system is outdated or in poor condition, you might even need to consider undertaking an HVAC replacement to guarantee optimal performance. Regular maintenance and, if necessary, replacement can contribute significantly to the overall comfort and efficiency of your new home.