Common home ownership expenses that are overlooked

Congratulations! The day has arrived that you are buying a home. You have saved your money, pre-qualified for a mortgage, and even planned for items such as closing costs, taxes, and insurance. This is certainly an exciting time, however there is still some more financial due diligence ahead. This article will highlight a few of these common expenses that you should budget for.

Lawn care

Assuming that your new home has a yard, you will need to plan accordingly. Even for do-it-yourself home owners, there will likely be expenses for gardening equipment, fertilizer, weed killer, mulch, plants, lawn and garden products, plus any professional care. In addition, periodic tree trimming will need to be budgeted for, particularly if any limbs are touching the roof. These limbs can not only damage the roof, but they also invite rodents and other critters onto your home to look for access points.

Swimming pool/spa maintenance

With many homes having a pool in South Florida, this is another common area for maintenance and associated expenses. In addition to general cleanings, you will need to plan for chemicals, filters, pump maintenance and repairs.

Termite and pest control

In South Florida, there are no shortage of critters, bugs, and other pests that may enter the home. Depending on the home, you may want to consider a pest control plan to meet your specific needs. Of course, it is highly advisable to have a wood-destroying organism inspection conducted on the home when purchasing it.

General repair/replacement budget

Home systems and appliance failures are a result of normal wear and tear and a replacement budget should be allocated accordingly. Based on the 2019 ClearVantage report “A Study of Homeowners’ Appliance and Home System Service Experiences“, several trade estimate replacement costs for homeowners without a warranty service are as follows:

  • Plumbing up to $1,200
  • Appliances up to $1,500
  • Heating up to $3,625
  • Cooling up to $3,800
  • Pool and spa up to $600


In closing, the many benefits of owning a home still outweigh the potential hidden costs of ownership. Nonetheless, it is critically important that home buyers are prepared to budget accordingly for various potential expenses that may come up. As always, a generous home maintenance budget is warranted. In addition, these costs and repairs will vary depending on the region of the country that you reside. If you have questions about South Florida in particular, we can help. At Live South Florida Realty, Inc. we have assisted many clients achieve their dreams of home ownership in paradise. In addition, we also offer a list of verified and professional contractors to assist our clients with any home projects. Contact us today!


REALTOR® with Live South Florida Realty, Inc.