Homebuyers: Avoid These Costly Mistakes
If you’re buying a home in Colorado Springs, you should be aware of costly mistakes that could ruin your budget. There are 13 total mistakes to avoid when buying a home. Read this article to explore 3 of them.
For our full report “13 Extra Costs to Be Aware of Before Buying a Home”, simply complete the below form.
To get you started, here are 3 costly mistakes you should avoid when buying a home:
1. Be aware of hidden fees
2. Account for extra taxes
3. Calculate total costs
1. Be Aware of Hidden Fees
There are often hidden fees when purchasing a home. For example, your lending institution may require you to get your new home appraised. An appraisal can cost you up to $300. They may also ask you for a survey if the home is a resale. This costs approximately $1,000.
You may also be on the hook for a mortgage broker’s fee. This is where it pays to shop around because not all lending institutions charge this fee.
2. Account for Extra Taxes
Whenever you buy a home you will be required to pay property taxes. Your lending institution may decide to include these taxes into your monthly mortgage payment, raising it significantly.
You will also be responsible for a land transfer tax which is applied whenever property changes ownership. The amount of the tax varies depending on where you live.
3. Calculate Total Costs
One big expense that homebuyers often don’t take into consideration are moving costs. Roughly, the rate for a van and 3 movers ranges from $50 – $100 an hour. These rates can increase up to 20% during peak demand season.
Learn What Mistakes To Avoid When Buying a Home
Avoiding these mistakes will not only save you money, but time as well. When you go into a home buying transaction, you’ll now know what to be on the lookout for. Don’t fall for any of the above traps!
To get a copy of our full report, “13 Extra Costs to Be Aware of Before Buying a Home” complete the form below.
To get started on buying a home with Your Home Sold Guaranteed Realty – Barb Has The Buyers, call us at 719-301-1802, contact us here or fill out the form below.
What are you waiting for? Get started today with Your Home Sold Guaranteed Realty – Barb Has The Buyers in Colorado Springs.
