Budget for Extras When Buying a Home

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 When you’re house hunting, it’s easy to focus solely on the "Big Three": the purchase price, your down payment, and that monthly mortgage payment. But as anyone who has moved into a new home in Southeastern Wisconsin can tell you, the costs don't stop at the closing table.

To avoid "sticker shock" during your first month, you need to budget for the "extras"—those one-time and recurring costs that turn a house into your home. Here is a breakdown of what to keep in your "extra" fund.

1. The "Immediate Essentials" Fund ($2,000 – $5,000)

Even a "move-in ready" home usually needs a few things before you can truly settle in.

  • Lock Changes: This should be your very first task on move-in day. Budget about $150–$300 to have a locksmith rekey all exterior doors.

  • Window Treatments: It’s a classic first-time buyer mistake—realizing at 9:00 PM on the first night that the previous owners took all the curtains. Blinds and shades for a whole house can quickly add up to $500–$1,500.

  • Deep Cleaning: If the sellers didn’t leave the place sparkling, a professional deep clean before your furniture arrives is worth every penny (usually $300–$500).

2. Moving Costs ($800 – $2,500+)

Moving a 3-bedroom house within the Milwaukee area typically costs between $1,000 and $2,000 for professional movers. If you’re a DIY fan, remember to budget for:

  • Truck rental and fuel.

  • Boxes, tape, and bubble wrap (these "small" items can easily hit $200).

  • Pizza and drinks for the friends who help you!

3. The "New Yard" Starter Kit

If you’re moving from an apartment to a house in a suburb like Muskego or Franklin, you’re likely inheriting a lawn. If the sellers aren't leaving their equipment behind, you’ll need to budget for:

  • Lawn Mower & String Trimmer: $400–$800.

  • Snow Blower or Shovels: Essential for our Wisconsin winters! A decent snow blower will run you $600–$1,200.

  • Hoses and Garden Tools: $100–$200.

4. Utility Setup and "Sticker Shock"

Don't forget that utility companies often require a setup fee or deposit for new accounts. Also, be prepared for your first winter heating bill. Moving from a managed apartment to a standalone home often means a jump in heating and electricity costs—sometimes $100–$200 more per month than you're used to.

Pro Tip: The 1% Rule

A good rule of thumb is to have a "Home Emergency Fund" equal to 1% of your home's purchase price tucked away in a savings account. If you buy a $350,000 home, try to keep $3,500 set aside. This isn't for fun furniture—it’s for the day the water heater decides to retire or a storm decides your gutters need replacing.

The Bottom Line: Buying a home is an investment in your future, but the first few months are always the priciest. By planning for these "extras" now, you can spend your first few weeks enjoying your new space instead of stressing over your bank statement.

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