Post-Purchase Costs Buyers Should Expect

As someone who’s spent more than two decades guiding Bay Area buyers through the maze of real estate financing, I’ve seen how easily first-year costs after closing can catch people off guard. Beyond the obvious—down payments, closing costs, moving trucks—there’s a layer of expenses that always seems to surprise: repairs, new furnishings, and appliances. It’s a pattern, whether you’re in a brand new build or picking up the keys to a classic home. On average, buyers of newly constructed homes spend about $26,900 in their first year, compared to $18,700 for those purchasing existing homes. Appliances and equipment alone run $4,300 for new builds and $3,700 for existing properties. Furnishing those fresh spaces? New construction averages $8,300, while existing homes see about $3,900. The biggest hit, though, comes from alterations and repairs—$14,300 for new homes and $11,100 for existing. Planning for these expenses upfront is just as important as securing the right mortgage. My approach is always to help clients anticipate the full picture so the first year in their new home feels empowering, not overwhelming.