Buying a house for the first time is daunting, exciting and stressful.

When buying a home, there are many things besides the mortgage that many first-time buyers overlook and often feel like they’re hit with additional costs out of the blue, says Daryl Fairweather, chief economist at Redfin. But beyond those unexpected costs, there’s an emotional aspect that many buyers don’t consider in their decision-making process.

Here are the top three things Fairweather says prospective homebuyers should look for to avoid being caught off guard.

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There is more than just a mortgage

While the mortgage is an important consideration when purchasing a home, you should not forget the other costs that come with it, such as property taxes, building insurance, maintenance and repairs.

“While mortgage payments may be predictable with a fixed-rate mortgage, other costs may increase over time,” Fairweather said.

The best thing to do is focus on what your monthly payment will be and whether you can afford it, says Bankrate. Just because you qualify for a large loan doesn’t necessarily mean you can make those payments.

It might also be a good idea to take classes for first-time home buyers offered by nonprofit organizations, banks, lenders and real estate agents, Fairweather added.

Buying a home is emotionally stressful

It happens to the best of us. You walk in thinking you know exactly what you want in a home, but then you get distracted by the size of the kitchen, the color, the fireplace (or lack thereof), and the price.

On the other hand, the house you’re looking at is exactly what you were looking for and you want to grab it before someone else tries. So you make an offer, but then you get that bad feeling that maybe you’ve bid too much?

“Buying a home is both a financial and emotional decision. This can make the buying process even more stressful for first-time buyers who don’t know what they want and what they expect from a home. It can be difficult for first-time buyers to prevail in a bidding war against more experienced buyers because the first-time buyer may have second thoughts and hesitation or be more concerned about accidentally paying too much for a home,” Fairweather said.

One tip that can help you slow down and take stock of what’s going on during the buying process is to create a timeline, according to Bankrate.

“The biggest mistake I see is not planning the purchase far enough in advance,” says Nick Bush, a real estate agent at Keller Williams. said Bankrate.

Search for an agent

Because buyers now have more negotiating power about how much their real estate agents earn, The best thing to do is shop around and find an agent you know will help you find the perfect home that fits your budget.

“First-time home buyers should use an agent who knows the local market and understands what the buyer wants,” Fairweather said.

Your agent or potential lender can help you calculate taxes, insurance costs and utilities, which can soften the shock of these additional expenses, so choosing the right people to work with can make a big difference.

In March, the National Association of Realtors announced that sales commission regulations for brokers would be eliminated following an agreement.

The settlement came in response to numerous lawsuits alleging that homeowners were wrongfully forced to pay artificially inflated commissions to real estate agents when selling their homes.

The typical commission on the sale of a home is 6%. This pays the agent for the trouble of listing and showing homes. The fee is usually paid by the seller of the home and is sometimes split between the seller’s agent and the buyer’s agent.

• For a home worth $1 million, that means $60,000 in Property Commissions.
• For a home selling for $412,778—the current median price for a home in the U.S. according to Redfin data—that equates to a commission of just under $25,000.