As you plan for that next big move, it’s easy to focus on down payments and closing costs—but the first year of homeownership often brings some surprises. Many clients find the real expenses start after move-in, with repairs, furnishings, and appliances all adding up quickly. On average, buyers of newly built homes spend about $26,900 in their first year—compared to $18,700 for those purchasing existing homes. Appliances and household equipment usually top the list, running $4,300 for new construction and $3,700 for existing homes. Furnishing your new space can be another big ticket: $8,300 is the average for new builds, $3,900 for existing homes—especially if you’re filling larger rooms. Alterations and repairs are often the biggest first-year expense, averaging $14,300 for new homes and $11,100 for existing ones. Planning ahead for these costs helps protect your budget and keeps the transition into your new address as smooth as possible. At Incyte Realty, we believe turning dreams into addresses means navigating every step together and preparing for the full picture of homeownership.
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