You have done all your homework on finding and making an offer on your Illinois dream home. Or have you?

To better ensure that you do not receive the keys to disappointment rather than the keys to your new home, see what CNN Money says about some of the often-forgotten costs involved with buying a home. Take steps to make sure that no one else snatches the perfect home out of your hands.

More than closing costs

Once you have figured out the closing costs, be sure to ask about the post-closing costs. For instance, your lender may expect you to pay a year of your mortgage and taxes upfront. Even if the seller prepaid HOA or taxes on the home, expect to have to repay a prorated amount.

Home inspection 

Having the property inspected is in your best interest as well as the seller’s. That way, you have a better idea of whether the home has any structural, plumbing or electrical issues that you need to be aware of. If a problem exists, you may have to pay someone to come out to your home to pin down the true issue, which costs more money.

Moving

Do not forget to factor the cost of moving into your homebuying estimate, which can be easy to do when caught up in the excitement of purchasing a home. You can do a lot to save money on the cost of your move, but it is best to not cut too many corners. If you plan on hiring movers, ensure that they have a license from the Federal Motor Carrier Safety Administration. Once you get moved into your new home, you may also want to change the locks and get the utilities and internet set up, all of which add to the overall cost of moving.

Do not let unexpected expenses block you from becoming a happy homeowner. Consider opening a bank account specifically for the above costs.

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