Before you shop for your first home to buy, you may want to research the expenses related to owning a home. Owning a home can be costly -- because it is not just the monthly mortgage payment you will have to pay. There are many other expenses you may have with your new home, and while some expenses are predictable, there are others that are not. Here are five different expenses you will need to plan for if you are going from renting to owning.

Property taxes

If you have been renting an apartment or a home, you would not have been paying property taxes, but you will have to pay these if you own a house. To keep your property taxes as low as possible, make sure you file all the exemptions you are entitled to with your local courthouse.

Insurance and deductibles

As a renter, you may have paid renter's insurance, and this is very similar to homeowner's insurance; however, homeowner's insurance will cost more because it offers more coverage. Another thing to consider is that renter's insurance is typically optional, while homeowner's insurance is a requirement.

In addition, if you must file a claim on your policy, you will also be required to pay the deductible on it. This might be as low as $500, but it could also be as high as several thousands of dollars.

Repairs and maintenance

Being a homeowner also means that you will be responsible to pay for all the repairs and maintenance on the home you own. This is a big difference from renting because your landlord was responsible to pay for all these things and you were not responsible for any of them.

Pest elimination

Another expense you may have is pest elimination services, and this is another expense your landlord would have covered if it was needed. If your new home ever has bugs or rodents in it, this will be an extra expense you will have to pay.

Yard care

When you rent, there is a good chance the landlord might also provide lawn care services, but this is not the case when you own a house unless the house is a condo. If you purchase a single-family home, taking care of the yard work will be up to you.

In addition to these expenses, there might be other ones too. As long as you know that you will have these and budget accordingly, you should have no problem affording a home if you buy one that suits your budget. If you are ready to start house hunting, line up an appointment with a real estate agent in your city.