Buying a home can be expensive, but the sticker price often doesn't even begin to cover the other expenses. Most people don't know the full range of the expenses you need to have to reasonably cover a full home purchase. Here are the 8 most common expenses to expect when you purchase a home:

Down Payment

The first expense you will incur for your home is the down payment. You'll want to put down 20% of the home's purchase price for the best interest rate, but you can put down as low as 3.5% with an FHA Loan.

Mortgage Payments

After you put forth the down payment, you will have a monthly expense known as a mortgage payment. A mortgage payment is getting you closer and closer to having full ownership over your home each month.

Closing Costs

Closing costs are completely dependent on the lender with whom you choose to work. You'll probably end up spending a few thousand dollars; these costs will be due when you sign your closing loan documents.

Escrow Fees

When you make certain payments, you will have to place them into an escrow account. The escrow company will usually charge a transaction processing fee that could range anywhere from a few hundred to a few thousand dollars.