A new or first-time home buyers #1 question when buying a home is
“How much money do I need? And what are the expenses I need to expect?”
The Nest Atlanta team wants to make sure our home buyer clients are armed with as much information as possible when purchasing a home. We want you to be able to make an informed decision, so that you can pat yourself on the back in the years to come!
This home buying expenses may vary from state-to-state, but here a breakdown of the up-front costs for Georgia home buyers:
1) Earnest Money………….Typically 1% of the purchase price
** Due when you submit your offer on a home and returned (or credited back) to you at closing
2) HOME INSPECTION ……..$325 – $500 (pricing depends on the size/age of the home)
3) HOME APPRAISAL……….$350 – $450
4) LOAN APPLICATION FEE / CREDIT CHECK………………… Varies by Lender
5) TERMITE INSPECTION (optional, but recommended)………… $45 – $75
6) LOW-FLOW PLUMBING CERTIFICATE (unincorporated Dekalb County)…. $75
*** TOTAL (ESTIMATED) COST FOR A $200,000 HOME –> $2,850
*** TOTAL (ESTIMATED) COST FOR A $300,000 HOME –> $3,800
If you have questions about the home buying process and/or the other fees associated with buying a home (i.e. closing costs, lender fees, etc), please call Kerry Lucasse and the Nest Atlanta team anytime at 404.721.3001. We would be honored to assist you!
Posted by: Kerry Lucasse :: Ian Marshall Realty :: Nest Atlanta Real Estate Group
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One Comment
Most people know that you should always get a home inspection before buying a home but the Latin phrase “Caveat Emptor” is the reason why. This means “Buyer Beware” and is the legal principle in Ohio that when you buy a home, you are responsible to educate yourself on the home’s condition.