Certain costs that come with buying a home are totally expected, like down payments and closing costs. You also know that after buying the house you’ll have mortgage payments each month.

But when you’re making your long-term budget, don’t forget about some of the other expenses that come with your home.

Here are some of the common considerations that you should keep in mind for your long-term budget:

Insurance

Once you’re a homeowner, it’s important to protect your investment. There are property insurance options to cover just about anything you can think of for your home.

Homeowner’s insurance is important when it comes to rebuilding, repairing or replacing in the event of a home-related disaster or theft. It covers damage to the house and protects your belongings inside the house.

While homeowner’s insurance covers some weather-related damage, it doesn’t cover flood damage. If you live in an area with a high flood risk, you may want to get flood insurance.

There are plans for other types of emergencies as well, like home warranty plans to help with repair costs or mortgage disaster insurance to help cover mortgage payments during certain emergencies.

When you’re buying your home, talk with your family and your insurance provider about what coverage makes sense for you, then work it into your budgeting plans.

Home Upkeep

It takes some time and money to keep your home beautiful over the years. A well-maintained will be worth more over time than one that has been neglected. Whether you hope to live in your home forever or sell it someday, it is worth the effort to keep it in the best possible shape.

This means fixing things that break, caring for your lawn, maintaining the exterior and interior of the home and anything else that keeps your home looking great. Some of these costs will be ongoing, like lawn care. Others can be part of an overall home maintenance budget.

Air Conditioning/Heating

Depending on the size of your house and the climate of where you live, air conditioning and heating costs may fluctuate with your monthly electric bill. Aside from those monthly costs, the unit will also need routine maintenance to keep the system in good shape.

And of course, your air conditioning/heating unit will likely need to be repaired or replaced over time too. Having an emergency budget can help with repairs but you may want to create a separate savings plan to cover unexpected expenses or if you think your system will need to be replaced.

Property Taxes

Property taxes will be an ongoing cost every year. An easy way to prepare for this is to set aside money in your budget each month or put it in escrow so you’re ready at the end of the year.

When you budget for property taxes, keep in mind that these taxes may increase over time.