Homeownership is a dream for many, but the costs extend far beyond just paying the mortgage. There are numerous other expenses that come with owning a house that can add significantly to your budget.

Property taxes are owed annually and the amount depends on the value of your home. Property tax rates vary in different areas, but you’ll typically pay between 1-3% of your home’s assessed value each year. Homeowner’s insurance is also required for most mortgages to protect your investment. The average annual premium in the U.S. is around $1,200.

Utility bills for a house are usually much higher than for an apartment. Everything from heating and cooling to water and electricity will cost more for a larger space. The average household spends about $2,000 per year on utilities. Maintenance and repairs are ongoing responsibilities that can cost thousands per year. Things like a new roof, HVAC repairs, plumbing issues, and general upkeep are all part of homeownership.

Landscaping and yard maintenance also require an investment of both time and money. Lawn mowing, fertilizing, mulching, pruning, and gardening all add up, with the average homeowner spending around $500 per year. Cleaning supplies are another expense, especially if you have more square footage. Things like vacuums, mops, dusters, and cleaning solutions will cost more for a whole house.

Furnishing and decorating a home, especially when you first move in, can cost a small fortune. Everything from couches and tables to linens, art, rugs, and lighting adds up quickly. Ongoing costs like these, combined with unexpected home repair bills, mean that the financial responsibilities of being a homeowner go far beyond just paying the mortgage each month. Make sure you understand and budget for all the hidden costs of homeownership before you buy.