Joshua Racicot -Northpointe Bank

What’s one thing first-time homebuyers wish they knew before buying a home?

👉 The hidden costs of homeownership.

Most people focus on the monthly mortgage payment—but that’s just the starting point. Maintenance, utilities, rising insurance premiums, and increasing property taxes can really add up. And with inflation still higher than normal, those costs feel even heavier.

To put it in perspective, the average homeowner spends about $18,000 a year on maintenance alone. That’s why many experts recommend budgeting well beyond your mortgage payment—think of that payment as the floor, not the ceiling.

Owning a home is still a great investment, but understanding the full picture upfront can make the experience far less stressful and a lot more rewarding.

If you know someone thinking about buying their first home (or their next one), I’d love an introduction—feel free to send them my way!