The hidden costs in buying a home

The fees involved in buying a home are discussed in my April 2012 post:  "Estimate of Fees for First-Time Purchase."  Don't forget to also budget for the other costs involved.

First-time buyers are often surprised by the hidden costs of home ownership. These costs may include:

  • Property appraisal
  • Home inspection
  • Service charges for connecting utilities
  • Moving expenses
  • Property insurance

Buying a home is expensive but there can be good financial reasons to do it. For example, a home is an asset that can grow in value over time, and the rent won't keep going up.

Feeling overwhelmed by how much there is to learn and deal with?  Guiding you through this complicated process is one of the things I am there to do.

 

Adapted from Settlement.Org