August 25, 2025

The Shocking Hidden Costs No One Tells You About Buying

Buying a home is exciting—but it’s not just about the down payment. Many buyers are surprised by the hidden costs that pop up along the way. If you're looking at South Nashua houses for sale or Southern NH houses for sale, knowing these extra expenses helps you plan smarter.

Let’s break down the costs you might not expect but definitely need to know.

🧾 Closing Costs: The First Surprise

Closing costs are the fees you pay to finalize your home purchase. They usually range from 3% to 6% of the home’s price.

What’s Included:

  • Loan origination fees
  • Title insurance
  • Transfer taxes
  • Recording fees
  • Attorney fees

On a $400,000 home, closing costs could be $12,000–$24,000. That’s a big chunk many buyers forget to budget for.

🛠️ Home Inspections: Worth Every Penny

A home inspection checks the condition of the house. It’s not required, but it’s highly recommended.

Typical Costs:

  • General inspection: $400–$700
  • Septic or well inspection: $300–$500
  • Radon or mold testing: $150–$300

These inspections help you avoid costly surprises after you move in. They also give you power to negotiate repairs or price reductions.

🏦 Appraisal Fees: Required by Lenders

Before you get a mortgage, your lender needs to know the home’s value. That’s where an appraisal comes in.

Cost Range:

  • $400–$700 depending on location and property type

Appraisals protect both you and the lender. They make sure you’re not overpaying for the home.

🏘️ Private Mortgage Insurance (PMI)

If you put down less than 20%, you’ll likely pay PMI. It’s an extra monthly cost that protects the lender.

PMI Costs:

  • $150–$500+ per month depending on loan size

PMI doesn’t build equity, but it helps you buy sooner. Just remember to factor it into your monthly budget.

🏢 HOA Fees: Community Comes With a Cost

If you buy a condo or a home in a planned community, you may have to pay HOA fees.

Typical Range:

  • $200–$800+ per month

HOA fees cover things like landscaping, snow removal, and shared amenities. Always ask about these fees before making an offer.

🏡 Property Taxes: Ongoing and Often Overlooked

New Hampshire has some of the highest property taxes in the country. Rates vary by town, so do your homework.

Average Costs:

  • $6,000–$10,000+ per year depending on location and home value

South Nashua and other Southern NH towns may have different rates. Always check with the town office or your REALTOR®.

🔥 Homeowners Insurance: Protect Your Investment

Insurance is required if you’re getting a mortgage. Even if you’re paying cash, it’s smart to have coverage.

Average Premiums:

  • $800–$2,000+ per year

Coastal areas or older homes may cost more. Shop around and compare quotes to get the best deal.

💡 Utilities: Monthly Costs That Add Up

Once you move in, you’ll need to pay for electricity, heating, water, and internet.

Typical Monthly Costs:

  • Electricity: $100–$200

  • Heating (oil/gas): $150–$400

  • Water/sewer: $50–$100

  • Internet/cable: $75–$150

These costs vary by season and home size. Ask the seller for past utility bills to get a better idea.

🧰 Maintenance and Repairs: Plan for the Unexpected

Every home needs upkeep. From leaky faucets to roof repairs, things break over time.

Annual Budget Tip:

  • Set aside 1%–5% of your home’s value each year

For a $400,000 home, that’s $4,000–$20,000 annually. It may sound high, but it helps you stay ahead of big repairs.

Moving Costs: Don’t Forget the Move Itself

Moving isn’t free. Whether you hire movers or rent a truck, it adds up.

Typical Costs:

  • Local move: $500–$2,000

  • Long-distance move: $2,000–$5,000+

Also budget for boxes, packing supplies, and maybe a few pizzas for your helpers!

🛋️ Furniture and Decor: Making It Feel Like Home

Once you move in, you’ll want to make the space yours. That means furniture, curtains, rugs, and more.

Starter Budget:

  • $2,000–$10,000 depending on your style and needs

You don’t have to do it all at once. But it’s good to plan ahead so you’re not caught off guard.

🧠 Tips to Stay Ahead of Hidden Costs

1. Build a Realistic Budget

  • Include all the costs listed above.

  • Don’t rely only on your down payment estimate.

2. Keep an Emergency Fund

  • Save for surprise repairs or life changes.

  • Aim for 3–6 months of expenses.

3. Work With a Trusted REALTOR®

  • They’ll guide you through every step.

  • Ask questions and lean on their experience.

If you're buying South Nashua houses for sale or Southern NH houses for sale, a local expert makes all the difference.

💬 Be Smart, Be Ready

Buying a home is exciting—but it’s also a big financial step. Knowing the hidden costs helps you plan better and avoid stress.

From inspections to taxes, every expense matters. Whether you're buying in South Nashua or anywhere in Southern NH, being prepared makes the journey smoother. So take your time, ask questions, and build a budget that works for you. Your dream home is out there—and now you’re ready for it.

If you need more information on the hidden costs of owning a home, or are ready to sell your house give us a call at (603) 883-8840. You can also sign up for your dream home search or reach out to Our Agents for more information. We’d love to help you with your real estate needs.