South Florida Home Buyers Be Aware Of ‘Sleeper Costs’!


Purchasing A Home In Fort Lauderdale
Purchasing A Home In Fort Lauderdale

Attention South Florida Home Buyers Be Aware Of ‘Sleeper Costs’!


When buying a home you are just not incurring a mortgage payment. Consideration must be given to current property taxes, utilities, HOA dues, repairs, maintenance, and tax increases.  Working With A Galleria International Realty Agent we will help you to preplan for all aspects of the home buying process to ensure your well prepared!

Here are the most common sleeper costs to account for when purchasing your new home;

  • Cable / Phone Installation
  • Utility Connect Fees
  • Utility Bills
  • Home Owners Associations
  • Paint
  • Landscaping
  • Tax Increases
  • Air Filters
  • Light Bulbs


BONUS: Here Is A List Of 9 Expenses To Plan For In Your Budget!

Inspection and Appraisal Fees

Before you purchase a home, you need to pay for a home inspection, an appraisal and perhaps additional inspections for pests or radon. The costs of these inspections are borne by buyers and are a necessary protection to avoid buying a flawed property or paying too much.

Closing Costs

Some buyers are able to negotiate with the seller for a contribution for these costs, but buyers need to be prepared with the cash for anywhere from 2% to 4% of the mortgage balance depending on your area.


As a homeowner, you’ll need to pay property taxes, which are generally part of the escrow you pay into each month. Remember, even if you have a fixed-rate home loan, your property taxes could go up and increase your monthly housing costs.


Your lender will require home insurance, which could be costly depending on a variety of factors including the construction materials of your home and the location. Even if you have renter’s insurance, you’ll find that home insurance costs more because you are paying for the ability to rebuild your home in addition to replacing your personal possessions. Insurance costs can also rise over time, and you may need supplemental insurance if you live in a flood or earthquake zone.

HOA and Condo Fees

If you buy a home within a homeowners’ association or a condominium association, you’ll be required to pay a monthly or quarterly fee. These fees can rise, or your association may need to charge a special assessment for projects such as repaving the parking lot or repairing a roof

Moving Costs

Not only will you need to pay a moving company or rent a truck to move your belongings, but you may need to make deposits to start your utilities.

Utility Bills

Depending on where you live now, your costs for electricity, gas and water could be higher when you move into your own home. You may also need to pay for garbage collection along with your Internet, cable and phone bill.

Lawn Care

Whether you handle your yard work yourself or hire a professional, you will have to pay something to keep your landscaping in check. Lawn equipment can be costly and, if you have a lot of land, you may need items such as a snow blower or a leaf blower, too.


Interior home maintenance costs both time and money. While you may be able to change your furnace filters, clean your gutters and keep your appliances running smoothly yourself, you may also need to hire a contractor to clean and inspect your chimney and to keep your heating and air conditioning system in top shape.

Join Our Premium South Florida Hot-List Email Blast

* indicates required