9 hidden costs that come with buying a home

If you're planning to buy a house in the near future, you're probably getting your credit in order, scouting out your favorite neighborhoods, and saving up for a 20% down payment.

But the down payment and the mortgage aren't the only costs to prepare for when purchasing a new home.

There are a mountain of hidden expenses - from maintenance fees to taxes - that can add up to more than $9,000 each year, real estate marketplace Zillow estimates. And closing costs alone can tack an additional 5% onto the initial price of the home.

Business Insider previously spoke to Zillow's chief economist, Svenja Gudell, about the three big unavoidable costs - homeowners' insurance, property taxes, and utilities - and other common costs that are often overlooked.

If you're considering buying a home, be mindful of these expenses when establishing your budget, Gudell says.

Kathleen Elkins and Dylan Roach contributed to a previous version of this article.

Skye Gould/Business Insider