12 extra costs to be aware of before buying a home

12 Extra Costs To Be Aware Of Before Buying A Home

“ The last thing you need are

unbudgeted financial obligations cropping up hours before you take possession of your new home. “

Your lending institution may

request an appraisal of the property which would be

your responsibility to pay for.

1. Appraisal Fee

Depending on your down-payment and lender you may be required to show

proof that you have paid your taxes

2. Property Taxes

You may be required to get an updated property

survey

3. Survey Fee

Home insurance covers the

replacement value of your home (structure and

contents)

4. Property Insurance

Any new utility that services your hook

up, such as telephone, cable, etc… may require an installation fee.

5. Service Charges

At the closing there will be fees involved

from the title company that

processes your title work and completes

the closing.

6. Title Closing Fees

Depending upon the equity in your home,

some mortgages require mortgage loan insurance.

7. Mortgage Loan Insurance Fee

A mortgage broker is entitled to charge you a fee in order to source a lender and

organize the financing.

8. Mortgage Brokers Fee

The cost for a professional mover can cost you in the

range of $50 - $100/ hour

9. Moving Costs

Condos charge monthly fees for

common area maintenance such

as grounds keeping and carpet cleaning

in hallways.

10. Maintenance Fees

If the home you purchased is

serviced by a well, you should consider having your water checked by your

local experts.

11. Water Quality / Quality Certification

If the town you live in has made local

improvements (such as the addition of

sewers or sidewalks), it could impact a property’s

taxes.

12. Local Improvements

For More Information …

Mike Cribbin Cribbin Realty

(314) 954-6500 Mike@CribbinRealty.com