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Five Forgotten Expenses of Moving into a New Home

Moving into a new home can be exciting and exhausting all at the same time. New job, new surroundings, new neighbors – it can be overwhelming. However, it is important to always stay on top of your finances, especially when making a big life change like this. You may be adding to your expense column in ways you hadn’t even considered yet. A brief look at five of these forgotten expenses includes:


If you decided to buy your new home having previously lived in a rental, insurance may be a bit of a surprise to you. Almost every home will have to have some kind of insurance on it, so the additional monthly expense here is important to remember. In all likelihood, your own landlord just included the cost in your monthly rental payment.

Even if you owned your old home, homeowners insurance at your new place may be a bit different. For example, you may be in a flood zone, or tornado zone now. These factors will increase the cost of the insurance on the new home.


You may be budgeting the estimated costs of your utilities based on what you pay in your old home. While this is a good place to start, it is also important to remember that utility cost can vary quite a bit from one region to another. Your new home may be in an area with higher costs, and it is important to budget for that.


Commuting cost is an often forgotten aspect of a new home. Where previously you may have lived two miles from work, you may now live 10 miles away and have to take a toll road to get there. The additional gas and toll costs can really add up fast.


Much like with utilities, you may have estimated your taxes based on your old home. However, taxes can vary a lot between areas. In particular, property tax, income tax, and sales tax should be looked at and may increase the budget.

Everyday life

Sometimes lost in all of the commotion is the cost of everyday life. You will want to buy groceries, see movies, and eat at restaurants in your new area. If the cost of doing these things is higher in your new neighborhood, this should be accounted for in your budget.

While moving to a new home can be daunting, with a little preparation you can be ready for any surprises that come your way.

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One Response to “Five Forgotten Expenses of Moving into a New Home”

  • I certainly think Insurance is an important item to point out because as you mentioned many factors can cause the cost of home insurance to go up. It’s important to get quotes from various insurance companies when you are in the process of buying a house to make sure you find the right coverage for your budget.

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