Beyond the Down Payment: A Look at the Hidden Costs of Home-Buying.

One of the most important steps in home-buying is saving up for the various expenses associated with the purchase. You've likely heard that you need to save for a down payment and closing costs, but there are actually a number of other expenses to consider when budgeting for your new home.

Here's a closer look at some of the out-of-pocket costs you can expect to encounter when buying a home:

• Earnest Money:

  This is a deposit you'll make to the seller to show that you're serious about the purchase. The amount of earnest money you'll need to provide will vary depending on the home and the seller's requirements.

• Home Inspections:

  Before you close on your new home, you'll want to have a thorough inspection done to ensure that there are no major issues that need to be addressed. This could include general inspections, sewer inspections, and radon testing.

• Home Appraisal:

  Your lender will likely require an appraisal of the home to determine its value. This is another expense you'll need to cover out of pocket.

• Utilities:

  When you move into your new home, you'll need to have utilities set up. Depending on the company, you may be required to pay a deposit or installation fee.

• Moving Expenses:

  If you're hiring professional movers or renting a truck to move your belongings, this is another expense to factor into your budget.

• Agency Fee:

  Finally, you'll need to pay an agency fee to cover the administrative costs of handling all of the documents throughout the closing process and storing them for the next few years.

All of these expenses can add up quickly, so it's important to start saving as soon as possible. By setting aside money for these costs ahead of time, you'll be better prepared for the expenses associated with buying a home..

If you're ready to start the home buying process but aren't sure where to begin, consider scheduling a buyer's consultation with me, your home girl. I can help you understand the full scope of the expenses you'll need to budget for, as well as guide you through the rest of the process. With a little planning and preparation, you'll be well on your way to buying your dream home.