Looking to buy or sell a Beverly Hills area home? Click here to perform a full home search in Beverly Hills. If you're thinking of selling your home, click here for a FREE Home Price Evaluation
so you know what buyers will pay for your home in today's market. You
may also call us - 424-239-6519 for a FREE home buying or selling
consultation to answer any of your real estate questions.
I
recently had a conversation with a colleague about a struggle one of
his clients was having. It was in regards to hidden costs, and their
buyer did not know about some of the fees and charges associated with a
home purchase. We always try to educate our buyers and sellers on these types of expenses so there are no surprises when it comes time to buy.
1. Property taxes
Property taxes will vary from state to state, but generally they are 1-2% of the total property value.
2. Homeowner’s insurance
This is something you have to have in case of fire, inclement weather, or disaster striking down your home.
3. Closing costs
Generally, closing costs are a singular part of the transaction, but for them, you’ll want to factor in things like appraisals, title company charges, recording fees, as well as processing or mortgage fees.
4. Repairs
If you’re buying a previously owned home, There are going to be some issues with repairs, whether it be the roof, the furnace, the cosmetics of the home, or something else entirely. Every home ages over time, so it’s important to know what you’re buying before you commit.
