Buying a home is one of the most rewarding investments you’ll make—but it comes with more than just a monthly mortgage. For homeowners across New Hampshire, especially first-time buyers, unexpected expenses can quickly add up if you’re not ready for them.
If you’re planning to purchase your first home or want to better manage your current property, understanding these hidden costs can help you plan smarter and avoid surprises.
1. Maintenance & Repairs
Even if your home is in great shape, things will eventually need fixing.
Common costs:
- Roof or siding repairs
- Plumbing leaks or water heater issues
- HVAC servicing
- Appliance replacement
🔧 Pro Tip: Budget 1–3% of your home’s value per year for general maintenance. If you own an older home in areas like Keene, that percentage could be even higher.
2. Property Taxes
Taxes vary by location, but they’re a major cost to keep in mind—especially in New Hampshire, where there’s no state income tax but property taxes can be higher.
What to watch:
- Your taxes may increase over time based on assessments or renovations
- Always check local rates when browsing Keene New Hampshire real estate or other towns
3. Utilities & Energy Costs
From heating oil in winter to cooling in summer, New Hampshire’s seasonal swings can impact your monthly bills.
Typical expenses include:
- Electricity and heating (especially if you use oil or propane)
- Water and sewer
- Trash removal
- Internet and cable
💡 Want to save? Start with our blog on creating a more energy-efficient home, packed with affordable upgrades to reduce utility costs.
4. Insurance & Emergency Funds
Homeowners insurance is a must—but don’t forget about supplemental coverage or emergency reserves.
What to plan for:
- Flood insurance (not always included in standard policies)
- Higher premiums for older homes or remote properties
- Deductibles when filing claims
🏡 Whether you're on the coast or deep in the Monadnock region, an emergency fund is your best defense against unexpected surprises.
5. HOA Fees, Landscaping & Seasonal Upkeep
Not all costs are monthly—some are seasonal or tied to your location.
- HOA or condo association dues (often found in townhome communities)
- Snow removal in winter
- Gutter cleaning, lawn care, and pest control
- Tree trimming or driveway sealing
🍂 In New Hampshire, homeowners also pay for the privilege of four beautiful seasons—which means more maintenance throughout the year.
Bonus: The Cost of Lifestyle Changes
Homeownership can shift how (and where) you spend money.
- Weekend trips to local attractions? Great! But also budget for travel and upkeep while you're away.
- New furniture or home upgrades? Many homeowners choose to “refresh” after moving in.
🏞️ If you’re planning to explore New Hampshire or spend weekends checking off the top things to see in New Hampshire, make sure your budget allows for fun and functionality.
Be Financially Ready for Homeownership
Being prepared for these hidden costs gives you confidence—not just in buying a home, but in building long-term value. If you're thinking about entering the New Hampshire real estate market or moving into a new phase of homeownership, budgeting for these expenses will help you avoid financial stress and protect your investment.
Need Help Planning Your Next Move?
At New Hampshire Real Estate Partners, we help you understand the real cost of owning a home—so you can plan smarter, live better, and buy with confidence.
📩 Reach out today for a free consultation or to explore homes in Keene and beyond.