Additional Costs
In addition to down payments, be sure to take into account other costs and fees associated with buying a home. Not all of these may apply, and I’ll provide you with an estimate for your property, mortgage and circumstances, prior to giving your deposit.
Inspection Fee
OPTIONAL: I recommend using a professional building inspector before removing subjects. The inspector will assess any needed repairs and the structural integrity. It’s often wise to shop around, because the cost varies between companies.
Appraisal Fee
An appraisal makes sure the property is worth the price you are paying, but it’s usually mandatory if your down payment is over 20%. If your lender requires an appraisal, I will order this for you, since each bank has a list of preferred appraisers.
Legal Fees
REQUIRED: A lawyer or notary must act for you in the purchase and mortgaging of the property, and I will help you pick the best one for your mortgage and situation.
Home Insurance
REQUIRED: Coverage against fire, loss, earthquake, theft, and liability are required on all homes. It’s often wise to shop around, because the cost varies between agents.
Moving Costs
OPTIONAL: This price depends on how much you’re moving, but most movers offer lower rates if you move in the middle of the month or during the week.
Municipal Property Tax
REQUIRED: Current homeowners paid the property tax for the year, so you pay back the portion they prepaid for you. Your lawyer or notary determines this amount.