Beyond the down payment and mortgage, buyers should budget for additional costs such as:
Closing Costs – Typically 2-5% of the home’s price, covering lender fees, title insurance, and escrow.
Home Inspections – Essential for identifying issues before purchase.
Property Taxes & Homeowners Insurance – These can significantly affect monthly payments.
HOA Fees – If applicable, these fees vary by community.
Moving & Immediate Repairs – Even move-in-ready homes may need new appliances or minor fixes.
Being prepared for these costs helps prevent financial strain after purchase.
