The Hidden Costs of Purchasing a Home

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2/8/22, 2:23 PM

The Hidden Costs of Purchasing a Home | fidomoney US | Business

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The Hidden Costs of Purchasing a Home by fidomoney US | Feb 8, 2022 | Business, Business News, fidomoney US, Finance, Fintech

While you may know that you will need a down payment to buy a home, there are other costs associated with a real estate purchase. Many of these expenses are included in the closing costs, and they typically include appraisal fees, hiring a home inspector, and paying for title insurance. Overall, you should expect your closing costs to account for 3% to 5% of your mortgage. Additionally, there are other hidden costs you’ll face in buying your home.

Homeowner’s Insurance While this isn’t necessarily a hidden home ownership cost, you should be aware that you’ll need to have a homeowner’s insurance policy in place. In addition to being a standard requirement made by mortgage lenders, maintaining insurance will protect you from a variety of threats. The cost of homeowner’s insurance will depend on your geographic https://fidomoneyusnews.com/the-hidden-costs-of-purchasing-a-home/

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