Planning on buying a home this upcoming year? Here is a list of the average expenses you’ll need to save along the way! These expenses are not exact, they will vary on size of home, size of lot, taxes, insurance..etc
Earnest Money
Average: 1% of sales price
Option Period Fee
Average: Between $200-$300
Inspection
Average: $500-$600
Price will vary on size of home, if there is a pool and if you plan to add a termite inspection (recommended)
Apprasial
Average $550
Survey
Average $525
Price varies on size and makeup of landscape, where you live and type of survey.
Down Payment
Down Payment will vary on the type of loan you get qualified for.
VA – 0% of sales price
FHA – 3.5% of sales price
Conventional – 5% + of sales price
Closing Cost
There are several standard cost in purchasing a home that include taxes. insurance, title fees, loan fees and more.
Average: 2%-3% of sales price