April 2025: The Hidden Costs of Buying a Home (No One Talks About These)

by Jonathan Bombaci

Thinking about buying a home in Massachusetts, New Hampshire, or Maine this year? You’ve probably budgeted for your down payment — but that’s just the start.

We’ve worked with hundreds of buyers, and nearly all of them are surprised by the “extras” that come with buying a home. These hidden costs can add up fast if you’re not prepared — so let’s break it down in plain English.

The Real Costs of Buying in 2025

1. Closing Costs (3–6% of the purchase price)

On a $500,000 property, you could be looking at $15,000–$30,000 just to close the deal. This covers things like title insurance, transfer taxes, and recording fees — and with rising home prices, these numbers have gone up too.

2. Inspections & Appraisal ($400–$700 each)

You’ll want a home inspection to catch any issues before closing — and your lender will require an appraisal to make sure the home is worth what you’re paying. If the home is rural or coastal, expect potential add-ons like septic, well, or flood zone inspections.

3. PMI (Private Mortgage Insurance)

Putting down less than 20%? You’ll likely pay PMI — an extra $150–$500+ per month, depending on your loan size. It’s a monthly cost that doesn’t build equity but is often necessary to get into your first property.

4. HOA Fees (if applicable)

Buying a condo or a home in a planned community? HOA fees can range from $200 to $800+ per month — and they vary widely based on amenities and location.

The Ongoing Stuff That Catches People Off Guard

Property Taxes: These vary by town, but New Hampshire continues to lead the pack with some of the highest rates in the country.
Homeowners Insurance: Coastal areas, especially in Maine and Massachusetts, are seeing higher premiums due to weather risks.
Utilities: Electricity and heating costs are no joke — Massachusetts tends to run higher than the national average.
Maintenance: A good rule of thumb is 1–5% of your home’s value per year. Roofs, plumbing, heating — they all need attention over time.

So, How Do You Prepare?

Build a realistic budget that includes these hidden costs — not just your down payment.
Keep a solid emergency fund for surprise repairs or life events.
Work with a real estate team that’s done this before and can guide you through every step — without the sugar coating.

Want to Learn More — and Meet Others Doing the Same Thing?

Buying a home (or investment property) doesn’t have to be overwhelming — especially when you’ve got the right people in your corner.

We host FREE real estate investor meetups every month in Massachusetts, New Hampshire, and Maine. It’s a no-pressure way to meet like-minded investors, connect with our team, and learn what’s working right now in this market.

Whether you're just getting started or scaling up, there's a seat at the table for you.

Check out our upcoming events and join us — we’d love to see you there.

View Meetup Schedule