The hidden costs of owning a home in Georgia

Maintenance and repairs

Every house wears out on a schedule. Roofs, HVAC systems, water heaters, appliances, decks and exterior paint each have a working life, and the inspection report tells you roughly where each one is in it. Ask your inspector the age of the big systems and plan for whatever is near the end.

Set aside money every month for repairs, starting the month you move in. An older home with original systems needs more; a new build needs less in the first years but still has filters, gutters and caulk.

Georgia-specific upkeep

• Termite protection. Subterranean termites are common across Georgia. Many homes carry a termite bond that must be renewed annually to stay in force. See termite inspections in Georgia.
• Humidity and crawlspaces. Moisture control — vapor barriers, dehumidifiers, gutters and grading — keeps crawlspaces and basements dry.
• HVAC service. Long cooling seasons work air conditioners hard; annual servicing extends their life.
• Septic pumping. Many homes outside sewer service use septic systems that need periodic pumping and inspection. See septic systems in Georgia.
• Trees and storms. Large trees near the house need trimming, and storm damage can mean a wind or hail deductible.

Taxes that change after you buy

The seller's tax bill reflects their exemptions and possibly an old, frozen value. Your first bill may be higher, and later reassessments can raise it again. File for your homestead exemption and read your annual assessment notice — you have 45 days from it to appeal.

Insurance renewals

Homeowners insurance premiums are set by the insurer at each renewal and can rise. Many Georgia policies carry a separate, higher deductible for wind and hail. Flood is not covered by a standard policy at all. See homeowners insurance in Georgia and flood zones.

If your insurance or taxes rise, your escrow payment rises too, sometimes with a one-time shortage to cover.

HOA dues and special assessments

HOA dues usually go up over time, and an association can levy a special assessment for a big project such as a roof replacement, pool resurfacing or road repair. Before you buy, read the budget, the reserves and recent meeting minutes. Some Georgia associations also charge an initiation or capital contribution fee when you buy. See HOAs in Georgia.

Utilities and services

• Electricity and gas — ask the seller for 12 months of bills; summer cooling dominates in Georgia.
• Water, sewer and trash — billed by the city or county, sometimes with deposits for new accounts.
• Well testing, filters and water softeners on homes with private wells.
• Lawn care, pest control and gutter cleaning, whether you pay someone or buy the equipment.

First-year purchases

Window coverings, a refrigerator or washer and dryer if they didn't convey, tools, a mower, locks and smoke detectors, paint. None of it is large on its own, and together it adds up. List it before closing so it doesn't land on a credit card.

Read the inspection report as a budget

The home inspection you order during Georgia's due diligence period is the best forecast of your future costs you will ever get for free. For each major system, write down its age, its condition, and the inspector's estimate of remaining life. Then sort the list into three columns: fix before closing (or get a credit), fix in year one, and replace within five years.

Questions to ask the seller

• What did the electric, gas and water bills run over the last 12 months?
• When were the roof, HVAC and water heater last replaced, and are there warranties?
• Is there a termite bond, who holds it, and does it transfer?
• Has the HOA approved or discussed any special assessment?
• Have there been any insurance claims on the home? (Ask your insurer for the claims history too.)
• When was the septic tank last pumped, if the home has one?

Common questions

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