Everyone knows buying a home is expensive -- the median sales price of a U.S. home was $278,800 in January, according the Census Bureau -- but there's much more to it than the cost of the house. No matter how much research you've done, it's hard to be totally prepared for every bill.
"It's definitely a challenge," said Eric Roberge, a certified financial planner in Boston and founder of Beyond Your Hammock. "That first-time homebuying, it's really an emotional experience -- you're coming into your own, you kind of feel successful ... you tend to just overlook certain things or say, 'I'm just going to get into the home and figure it out.'"
The overall cost goes beyond saving up for a down payment, finding a property to buy and getting a mortgage. (You'll need a good credit score to get the best deal on your interest rate too.
"People say, 'I'm going to go into the homebuying process, I'm going to put X percent down,'" Roberge said. "That's only part of the total cost of buying a home."
Roberge gave an example of a client he had who found a home for $350,000, and they wanted to make a 10 percent down payment, so they thought they needed $35,000 in cash. In reality, he said, they needed several thousand dollars more than what they'd saved to get through the process.
Here are some examples of expenses new homeowners may not be expecting. Not having enough cash on hand could really strain your housing budget, though strategic use of a personal loan or credit card may help with some of these costs.