🏡 Let’s Talk Out-of-Pocket Costs When Buying a Home
Many future homeowners focus on the down payment (which is important), but there are other expenses you need to plan for too. Let’s break it down simply so you can prepare with confidence 👇
✨ If You’re Paying Your Own Closing Costs:
Typical out-of-pocket expenses may include:
• Earnest money deposit (shows you’re serious — applied toward your purchase)
• Home inspection ($300–$600 average)
• Appraisal ($500–$800 depending on loan/type)
• Closing costs (usually ~2–5% of purchase price)
• Moving expenses, utility transfers, and possible initial repairs
👉 Example: On a $250K home, closing costs alone could range around $5K–$12K depending on loan, taxes, and lender fees.
✨ If Closing Costs Are Covered (Seller Credits/Programs):
You may STILL need funds for:
• Earnest money deposit
• Inspection & appraisal upfront (sometimes reimbursed later)
• First year homeowner expenses (insurance, maintenance, etc.)
• Moving costs + setting up your new home
⚠️ Covered closing costs does NOT always mean “no money needed.” Preparation is still key.
💡 Pro Tip:Always ask your lender AND agent for a full cost estimate early. Surprises at the closing table are not the goal — smooth keys-in-hand moments are 🙌
If you’re planning to buy this year and want clarity on numbers, drop “READY” below or message me. Education first… homeownership next. 🔑
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🏡 Let’s Talk Out-of-Pocket Costs When Buying a Home
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