Whether you’re interested in buying a home or you’ve just made the switch to homeowner, there are a lot of added responsibilities to prepare for. Even if you’ve made it to closing day and the brunt of the process is over, you’ll want to be prepared for everything that still lies ahead—especially the financials.

Insurance

If you’ve already purchased a home, this part will be covered. But you’ll still have to fit this payment into your monthly budget. Homeowners insurance will vary depending on where you live, especially if you are in a flood-prone area, since most insurance policies don’t cover flood damage.

HOA

Not everyone is required to buy into a homeowners association, but some areas do require it, and that means you’ll need to set aside up to a few hundred dollars a month for this expense. The good news is some HOAs will use this money to benefit members in need.

Utilities

The cost of operating a home versus an apartment can be a shock to new homeowners—so don’t let these expenses creep up on you! Do your research to find out what typical bills for HVAC, water, trash, and other utilities cost the previous owners so you can be prepared.

Upkeep

If you’re used to a groundskeeper or maintenance team helping to foot the cost of general upkeep, you’ll need to set aside a budget for the unexpected. Leaky pipes, broken appliances, burned-out bulbs—these are all things that will be your responsibility from now on.

As long as you’re prepared for what lies ahead in the homebuying process, there’s nothing to be afraid of. Keep these tips in mind, and you’ll be able to call yourself a happy homeowner in no time!