5 Hidden Costs of Homebuying

Almost 50% of Homebuyers said they weren't aware of all of the Costs Associated with Buying a Home.

This is a List of Top Expenses that New Homebuyers sometimes forget to factor in:

1. Closing Costs- These range between 2% to 5% of the Purchase Price. The National Average is about $6,000. Always, get an estimate on these Closing Costs before you ever write up an Offer.

2. Moving Costs- The National Average Cost of Moving is about $1,400 with a range from $800 to $2,150. (Estimate of a two-person moving team completing a local move of less than 100 miles. The average cost of a long-distance move is between $2,200 and $5,700).

3. Home Inspections- These Inspections typically run from $300 to $600 depending on the location and size of the property.

4. Title Insurance- The average cost of Title Insurance is Around $1,000 per policy, but that amount varies widely from state to state and depends on the price of your Home.  

5. Potential Renovations- A 2017 survey found that new homeowners spent an average of $10,601 on Furniture, Appliances, and Home Repairs in the first year.

So, when getting ready to Purchase a Home, keep all of these Hidden Costs in mind when making an Offer.