15 Little-Known Costs That Tend To Shock First-Time Homebuyers
There are more costs than you might think.
The ins and outs of buying a house can be as overwhelming as navigating tax law or health insurance — and many first-time homebuyers end up surprised by all the added costs.
To learn how to reduce the number of financial surprises during the home-buying process, I talked with Clare Trapasso, the deputy news editor at Realtor.com.
Here are 15 hidden costs that often take first-time homebuyers by surprise:
Note: The costs listed here are general guidelines and may vary depending on where you choose to buy a home.
1. Home Inspection
3. Home Insurance
4. Credit Report
5. Private Mortgage Insurance
6. Flood Certification
7. Property Taxes
8. Title Fees
9. Title Policies
10. Title Insurance
11. Recording and Settlement Fees
12. Land Surveys
13. Transfer Taxes
14. Moving Expenses
Homeowners, what hidden costs surprised you when you bought your house? Tell us about them in the comments!
And for more stories about life and money, check out the rest of our personal finance posts.