For many buyers, the down payment feels like the biggest hurdle — and yes, it’s a big piece of the puzzle. But buying a home comes with additional expenses that are just as important to plan for. Knowing these costs upfront keeps your experience smooth, transparent, and stress-free.
1. Closing Costs
These typically range from 2%–5% of the purchase price and include lender fees, title insurance, escrow fees, and recording charges. They cover the professional services that ensure your home transfer is legally sound and properly documented.
2. Home Inspection
A professional inspection usually costs $400–$700, depending on the property’s size and age. It’s money well spent—it helps reveal potential repairs and gives you confidence in your investment.
3. Appraisal Fee
Your lender will require an appraisal to confirm the home’s value. Expect around $600–$800 for this step. An accurate appraisal protects both you and your lender by ensuring you’re not overpaying.
4. Property Taxes and Insurance
Many buyers prepay their first property tax installment and homeowner’s insurance premium at closing. These costs can vary widely, but setting up an escrow account can help manage them steadily month by month.
5. Moving & Set-Up Costs
Don't forget the practical side! Budget for professional movers, cleaning, new locks, or small upgrades that make your new place truly feel like home.
Balancing the Emotional and Practical
Whether you’re a first-time buyer or transitioning to your next chapter, it helps to think of these costs as part of your journey—not hurdles. With the right guidance, each step brings you closer to the security and sense of belonging that homeownership offers.
As always, every situation is unique. I’m here to walk you through the numbers, negotiate thoughtfully, and guide you with both experience and heart.
REALTOR® and RESOURCE are synonymous.
It’s your real estate journey… I am the guide.
Your REALTOR® for life,
Terrylynn Fisher
