You’ve found the perfect home, and you’re ready to buy. But along the way, you’ll find that the actual cost of buying a home is different than the price on the listing. Plan for these routine charges and fees as you budget for your new house:
* Home inspection
* Survey – Your lender may require a survey of the property.
* Taxes – These are prepaid at closing and put into an escrow account so that taxes can be paid on your behalf.
* Fees – These include government recording charges, appraisal fee, credit report, title services, title insurance for yourself and the lender, buyer’s agent fee.
* Homeowners’ insurance
* Private mortgage insurance – If your down payment is less than 20 percent, you’ll need to pay PMI for a time.
There are also costs not related to closing that you need to consider when you buy a house:
* Moving costs
* Setting up new utilities
* New furniture and other items for your home
* Home maintenance and renovation costs