Loan Surfer Home Buyer Guide

COSTS THAT COME WITH BUYING A HOME OTHER EXPENSES TO SAVE FOR Aside from the actual real estate transaction, there are several other fees that come with buying a home. These will vary depending on your situation, but be sure you also save for:

• Utility bills. Moving from an apartment to a house? If you weren’t paying for water and garbage before, be aware that you’ll be responsible for these going forward, in addition to your normal utilities.

• Moving costs. From packing supplies to hiring a moving company, moving can hit you with a lot of unexpected expenses. Make sure you budget and save for these ahead of time.

• Homeowners’ Association (HOA) fees. If you move to a condo townhouse, or subdivision, you may have to pay a monthly HOA fee to cover amenities, which may include trash removal, lawn care, and access to a community clubhouse, pool, or golf course, to name a few.

• Maintenance and repairs. Owning a home includes the added responsibility of upkeep. If an appliance breaks down or your roof starts to leak, you’ll have to cover the costs to repair it.

NEGOTIATION TIP You can negotiate with the seller to pay some or all of the closing costs. If the seller won’t pay and you can’t afford your closing costs, talk to your lender about adding the closing costs into your loan.

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