ORLANDO, Fla. — Flush with the pride of homeownership, new homeowners spend an average of $10,600 in the first year of homeownership for household-related items, according to a recent National Association of Home Builders (NAHB) analysis.
Furniture, appliances and remodeling projects are among the biggest expenses – and new owners spend an average of $3,778 on furnishings alone, according to NAHB.
Here are a few common expenditures recent homebuyers made:
- Living room chairs and tables: $687
- Dining room and kitchen furniture: $345
- Window coverings: $215
- Sofas: $700
- Property alterations and repairs – such as outdoor additions or a new driveway, walkway or fence: $3,729
- Appliances – like washers and dryers, lawnmowers and other yard equipment or computer hardware and systems: $3,094
In a related report, a survey conducted by Home Innovation Research Labs shows that two-thirds of new homes built in 2015 came with no washer or dryer; 36 percent had no refrigerators. However, most new homes did come with cooking stoves, ranges, and ovens.