The Extra Housing Costs: How to Prep Your Buyers

December 18, 2018

Usually, home buyers don’t know what to expect when budgeting and planning ahead for the costs of homeownership. There are some smaller fees mixed into a home purchase that can get overlooked, but they still add up. recently featured some of the lesser-known fees to homeownership that buyers should budget for, including:

Home inspection 

  • Typical cost: $300 to $500

A home inspection can help buyers spot any structural or other conditional problems with the home before they buy.

Appraisal fee

  • Typical cost: $200 to $425

This report goes to the lender to make sure the property that they’re buying is worth the amount they’re paying.

Title services

  • Typical cost: $150 to $400

This cost covers a title search of the public records on the property, as well as notary fees, government filing fees, and some additional items.

Survey report

  • Typical cost: $150 to $400

This report will outline the property’s boundaries.

Application fees

  • Typical cost: $75 to $300

The lender will run a credit report and charge an application fee before approving anyone for a loan. Lenders can provide a breakdown of the application fees so that buyers are aware of all the costs.

Visit and share the full article with your clients about these lesser-known costs of buying a home.