Six surprises first-time owners find with their new homes

The day you own your first home is joyous – finally you're on the property ladder with a place of your very own and the opportunity to build your wealth.

And after probably saving for years for your deposit, there should be no small measure of delighted relief that you've achieved your goal.

Of course, responsibilities come with owning property.

If you've bought an apartment, then you'll be charged levies for the general upkeep of the property and its amenities.

You'll learn to deal with – or be part of – a Homeowners Association (HOA), a non-profit, legal entity that governs individual residential communities, apartment blocks and condos.

Its directors are elected by the residents, and it's a smart idea to get involved so you have a say in how and when the levies are spent on your building.

Those who've purchased a house will have a totally different experience.

All the costs associated with your new home are yours.

The amount you'll need to spend on maintenance will align with the quality of the property you've purchased. The ongoing work and cost does come as a bit of a surprise to some.

Here are a few other aspects of ownership that new owners say caught them out...