CLOSING COSTS
These are the fees associated with closing your mortgage loan and transferring ownership of the property. They can range from 2% to 5% of the purchase price and can include things like origination fees, title insurance, appraisal fees, and escrow fees.
original_87bd367f-2780-4ecc-929e-6688b742898e
PROPERTY TAXES
These are annual taxes levied by the local government on the value of your property. The amount you pay will vary depending on your location and the assessed value of your home.

HOMEOWNERS INSURANCE

This is a type of insurance that protects you from financial losses if your home is damaged or destroyed. The cost of homeowners insurance will vary depending on the size and location of your home, as well as the level of coverage you choose.

original_92d7e59f-e2ab-48b5-ab4b-1ef92f4bd14f

MAINTENANCE & REPAIRS

Even new homes require regular maintenance and repairs. Be prepared to budget for things like lawn care, painting, landscaping, plumbing repairs, and appliance replacements.

original_7b088d90-0aa5-45e7-9611-642b5bd61361

MOVING COSTS

The cost of moving can vary depending on the size of your move and the distance you're moving. Be sure to factor in the cost of hiring movers, renting a truck, and packing supplies.

original_4ebb294e-40d2-446d-8480-0cbe92ae9b46
UTILITIES
The cost of utilities can vary depending on the size of your home, your location, and your usage habits. Be sure to factor in the cost of electricity, gas, water, sewer, and trash removal.

HOMEOWNER ASSOCIATION FEES

If you live in a homeowners association (HOA), you will be required to pay monthly or annual fees to cover the cost of maintaining common areas and amenities. Something to keep in mind when home hunting

PRIVATE MORTGAGE INSURANCE (PMI)

If you put down less than 20% on your home, you will be required to pay PMI. This is a type of insurance that protects the lender if you default on your mortgage.

original_4ebb294e-40d2-446d-8480-0cbe92ae9b46

UNEXPECTED REPAIRS

Even the most well-maintained homes can have unexpected repairs. Be sure to have a healthy emergency fund to cover the cost of major repairs.

original_92d7e59f-e2ab-48b5-ab4b-1ef92f4bd14f