The short answerPlan for four groups of costs: during the contract (earnest money, inspection, appraisal), at closing (closing costs and prepaids), the move itself, and ongoing ownership (maintenance, HOA, utilities).
During the contract
These are paid between an accepted offer and closing:
- Earnest money: deposited with escrow and usually credited back toward your costs at closing.
- Home inspection: cost depends on the home size and any add-ons such as a pool, sewer scope or termite inspection.
- Appraisal: ordered by the lender; sometimes paid upfront, sometimes at closing.
At closing
Closing costs include lender fees, title insurance, escrow and recording fees. Prepaids include your first year of homeowners insurance, prepaid interest and the starting balance of your escrow account for property taxes and insurance. Your Loan Estimate itemizes every one of these within three business days of applying. See understanding cash to close.
Seller concessions and lender credits can reduce what you pay at closing. Ask about them when you write your offer.
The move itself
Movers or a truck, utility deposits and connection fees, changing locks, window coverings and basic furniture add up quickly. In Arizona summers, plan for higher cooling costs in your first months.
After you own the home
A maintenance reserve is what separates comfortable owners from stressed ones. Plan for regular AC service, roof checks before monsoon season, pool upkeep if you have one, and the occasional surprise repair.
- HOA dues, if your community has one.
- Property taxes and insurance (often paid through your monthly escrow).
- Utilities, landscaping and pest control.
- A repair fund you add to every month.