With today’s real estate market moving as fast as it is, working with a real estate professional is more essential than ever. They have the skills, experience, and expertise it takes
HIDDEN FEES TO BE AWARE OF WHEN PURCHASING A HOME
Dated: May 15 2020
Views: 242
Purchasing a home is arguably one of the biggest financial decisions you will make in your lifetime. As you start your hunt, don't forget there will be other costs associated with your purchase then the price of the home. Here are 5 fees to keep in mind as you begin to budget.
- Home inspection. This is a crucial step in the home buying process. The findings that come from the inspection can help you negotiate price and repairs. Generally, you can expect to pay between $300 to $500 depending on the home and the location.
- Title services. Title services encompass the transfer of the title from the seller and a thorough search of the property’s records to ensure to no one will pop up with a claim to the property. Additionally, you may need to buy title insurance which will protect the lender or your investment in the home.
- Appraisal fee. Before getting a loan, you will likely be required to get an appraisal of the home to determine its estimated value. This will be conducted by a third-party company and the cost can land anywhere between $300 and $1,000, depending on the size of the home.
- HOA fees. Many communities have a homeowners’ association that enforces monthly fees. This money is used for general maintenance and updates to areas like pools, parks, and more. Typical HOA fees are around $200 per month.
- Taxes. The taxes each buyer pays at the closing table differ, but it is not uncommon for it to be up to two months’ worth of county and city property taxes. Additionally, there may be taxes for the transfer of the home title.
John Montesano
Hi! Here is a little about me. I've been in real estate in Tampa since 1997. I started Homeward Real Estate after gaining experience as a Broker/Manager in the Re/Max system. As much as I loved work....
Latest Blog Posts
The link between financial security and homeownership is especially important today as inflation rises. But many people may not realize just how much owning a home contributes to
What Does the Future Hold for Home Prices?If you’re looking to buy or sell a house, chances are you’ve heard talk about today’s rising home prices. And while this increase in
Are you looking to buy a home? If so, we’ve got good news for you.While there’s no denying the housing market is having a great year, many of the headlines are focused on
Copyright © MFRMLS.com All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated Last updated on July 7, 2022 11:03 AM UTC The listing information on this page last changed on Last updated on July 7, 2022 11:03 AM UTCd. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of MFR MLS.
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Updated on July 7, 2022 11:03 AM UTC
