3 Homebuying Costs You Need to Know About

by Joan Alipo 06/23/2019

If you plan to purchase a house in the foreseeable future, it generally is a good idea to plan ahead for all of your potential homebuying costs. That way, you can secure the funds you need to purchase your dream house.

Now, let's take a look at three costs that every homebuyer needs to consider during the property buying journey.

1. Credit Report

A lender likely will request a verified credit report before it provides you with a mortgage. The fee for a credit report usually is minimal, but it is important to note that this fee adds to the overall cost of purchasing a house.

Oftentimes, a homebuyer can get pre-approved for a mortgage and pay a credit report fee prior to conducting a house search. On the other hand, if a buyer wants to secure financing from a lender after he or she discovers the perfect house, the cost of a credit report may be incorporated into this individual's home closing costs.

2. Home Inspection

A property inspection is crucial, as it ensures a property expert can analyze a house and identify any underlying problems with it before a buyer finalizes his or her home purchase. As such, it is paramount to account for home inspection fees to ensure you have the funds available to hire an inspector who can perform an in-depth evaluation of a house.

The cost of a home inspection varies based on the size of a residence. Meanwhile, there is no need to forgo this evaluation. Because if you ignore a home inspection, you risk encountering costly, time-intensive problems after you buy a residence.

3. Pest or Mold Inspection

A pest or mold inspection is not a requirement if you purchase a new house. Conversely, if you purchase an older residence, it typically is beneficial to inspect it for pests and mold prior to finalizing your house purchase.

Pest or mold inspection costs vary based on a home's size and location. And if you feel a home may be susceptible to pests or mold, you should pay the necessary fees to conduct a pest or mold inspection. Otherwise, you could encounter home pests or mold that may cause major problems down the line.

As you prepare to pursue your dream residence, you may want to hire a real estate agent as well. If you have a real estate agent at your side, you can receive comprehensive guidance as you navigate the homebuying journey.

In addition to teaching you about homebuying costs, a real estate agent is happy to educate you about all aspects of the housing market. Plus, a real estate agent will respond to your homebuying queries and help you make informed decisions as you search for your ideal residence.

When it comes to purchasing a house, it helps to budget accordingly. If you consider the aforementioned homebuying costs, you can craft a homebuying budget and speed up your quest to discover your dream house.

About the Author
Author

Joan Alipo

Jupiter Joan Opening Doors For You!

Joan Alipo is a licensed real estate agent in Florida for 20+ yrs. Joan's coverage area includes Jupiter, Tequesta, Juno Beach, North Palm, Palm Beach Gardens, Hobe Sound, Stuart, Palm City.

I welcome the opportunity to navigate the changing Real Estate Market and assist you in your Real Estate Objectives.

As a Listing Agent, I will provide local knowledge about housing statistics, schools and communities. I will maximize the return on your home, by providing a Market Evaluation. I provide strong Marketing and Negotiation Skills. Your home will be in front of hundreds of potential buyers. I have experience selling Real Estate in the area and have a network of existing buyers and agents.

As a Selling Agent, my research will provide you with accurate and real time data. I will educate you to the current market conditions thus strengthening your offer without the worry of overpaying, while always ensuring that each transaction adheres to the strict code of ethics. 

I provide professional Expertise, Personal Service, Exceptional Communication and Support thru Closing and After, I have a support team which provides Concierge Service to all my clients.

I also connect with policy makers and industry experts at the Local, State and National levels. My involvement helps in fighting taxes and laws that would adversely affect Homeowner's Rights or the American dream of Homeownership.

Please, give me a call and let's get started on your journey!

Joan Alipo also known as Jupiter Joan!

Membership/Credentials

NAR, National Association of Realtors, FR. Florida Realtors Association, JTHS Association of Realtors, RAPB-GFLR, Realtors Association of the Palm Beaches and Greater Ft. Lauderdale

Credentials: CIPS, Certified International Specialist, Global Luxury, TRC, Transnational Referral Certified, CRS, Certified Residential Specialist, CNS,Certified Negotiation Specialist, CMS, Certified Marketing Specialist, AHWD, At Home With Diversity, RSPS, Resort and Second Homes Specialist, Cartus Relocation Specialist, NAR President Liaison to Denmark.

Awards: FR Realtor Associate of the Year, JTHS Realtor of the Year, FR, Rock Star for Global Business, FR, Passion for the Profession, Customer Excellence Award, Lifetime Professional Achievement, FR/RAPB-GFTLR Honor Society.