Owning a home can be a smart move for both economic and emotional reasons. When you own a home, you get to call the shots, and from a financial perspective, owning means building equity in a property as opposed to throwing money away on rent month after month. Of course, the one major drawback of homeownership is the cost involved, and we’re not just talking about the down payment. There are numerous costs of owning a home that can sneak up on you almost out of nowhere, so before you sign those mortgage documents, make sure you’re prepared for what may lie ahead.