When you purchase a home for the first time, there’s a lot to think about. Buying a home is a big decision that can be very rewarding. A house comes with many costs, and you may not realize the charges you need to prepare for. Here are nine hidden costs of home ownership you should know about.

1. Homeowner’s Insurance

One cost you may not think about is homeowner’s insurance. Lenders usually require homeowner’s insurance because it covers at least part of the cost for significant events that damage or destroy your home. It also protects you from liability when accidents happen on your property.

If you are a first-time homeowner under a specific price range, you will also likely need private mortgage insurance for the first several years.

The average cost of homeowner’s insurance is around $1,200 but can vary.

2. Property Taxes

You know you’ll need to cover your mortgage payment, but you may not be thinking about the property tax payments that will come up.

Some lenders will roll them into the monthly mortgage payment, but not all. Property taxes can range from a few hundred to several thousand dollars depending on the size of the property and its location.

On many home websites, you can see the estimated property taxes. You can check with your realtor or county office to learn more about the property taxes you’ll need to pay.

3. The Roof

While a roof can last around 15-20 years, it can be a hefty bill when it needs replacing. Weather and falling debris can damage a roof and cause leaks. Water damage from a leaking roof could lead to a structural disaster that needs professional guidance to repair.

Roof repair and maintenance can be costly, but it will be even more expensive if loose or cracked shingles, fascia, and soffits aren’t repaired promptly.

Roof costs are an excellent reason to keep an emergency account for home repairs.

4. Furnishing Your Home

You may know what furniture you want already, but you might not think about the little decor items that will make your house feel like a home.

Window treatments, lights, storage, cutlery, and other small items can add up. If you choose to paint, you’ll need to purchase paint, rollers, and more. You’ll also need to think of artwork, knickknacks, or any holiday decorations you want to have around your home.

If you have a guest room, you’ll need to decide if you want to provide any artwork or a television. You may want to purchase new bedding for any bedrooms to match the new space.

All these things have costs you may not be thinking about when you first purchase your home.

5. Lawn Care

With most homes come lawns. A yard is a place to enjoy the outdoors, get some exercise, and plant crops and greenery. However, lawns require maintenance – whether you choose to maintain them yourself or hire an outside company, there will be a cost.

If you choose to take care of your lawn yourself, you’ll need to purchase a lawnmower and possibly a trimmer and clippers. You may also need to install a sprinkler system and pesticides or grass seeds.

Your homeowner’s association fees may cover your lawn care, so be aware of any covered care before you purchase additional equipment or services.

6. Cleaning

When you own a home, you are the sole person responsible for cleaning your home. Many first homes are larger than the owner’s previous rental and the increase in cleaning costs could come as a surprise.

The average American family spends over $170 on cleaning supplies each year and that cost goes up if you choose to hire a cleaning service. Adding cleaning costs to your monthly grocery budget can help you prepare for cleaning prices.

7. Organization

When you buy your first home, there are new purchases you’ll have to make. Lawns need mowers and trimmers, and more space means more room for appliances and knick-knacks in your home.

You may get so excited by these purchases that you forget you need a place to hold them. Having things scattered about can make your home seem cluttered and create a tripping hazard.

An outdoor storage shed can cost hundreds or thousands of dollars, and those little storage baskets add up over time. A good way to prepare is to think of where you are going to store an item as you buy it.

8. Maintenance

One of the biggest blessings and curses of owning a home is you own everything inside. When something breaks down, you are the one who’s responsible for fixing it.

You trust your home inspection to catch any major issues ahead of time, but ovens, outlets, and HVAC units break from time to time and are costly to repair.

If there’s something you can fix yourself, you’ll likely need to purchase materials to fix it. If not, you’ll need to hire a professional. Saving for emergency home repairs can help mitigate the cost of finding a contractor to get your home back in good shape.

9. Time

One of the biggest investments you get to make when owning a home is time. Caring for your home takes time that you previously could’ve used for other things.

The average homeowner spends over 10 hours a week on housework. The good news is that the satisfaction you get from having a solid home can make all of that time worthwhile.

Becoming a First-Time Homeowner

Purchasing a home is an exciting life change but can also be overwhelming and filled with many decisions. Buying a home can also lead to spending money you didn’t realize you needed. Discovering the hidden costs in advance can help you prepare – and save – for any situation.