What Does it Cost to Buy a Home?
The cost of buying a home varies with the individual, their credit history, the loan they obtain from their lender, and a few other things that will be specific to that individual homebuyer or co-buyers. But here’s an abridged guide that can provide a general overview of what can expect.
The Home Price
- This is the listing price of the home which will always be shown
Down Payment
- Money you put down toward your purchase
- 3,5,10, or 20%
Closing Costs
- Paid @ Settlement
- Add 3% home price
Earnest Money Deposit
- Taken from down payment funds in part or in full
- 3%, but varies
Homeowner’s/Condo Owner's Insurance
- Home value divided by 1,000 x $5.50
Home Inspection
- Help you learn about the home
- $500-$750
Termite Inspection & Misc.
- Help you learn about the home
- $150-$450
Lender Condo Questionnaire Resale Package
- Ordered by The Condo Connection
- Up to $450
Move-in fee
- Varies based on community
- Check the community’s rules & regs
