The Cost of Buying a HomePosted by Rick Clarke on
There is no doubt that the purchase of a home is a huge investment, for most people it is the biggest investment they will ever make. But there are many costs that are not always apparent when purchasing a home, that need to be considered.
When working with a Buyer’s Agent, early in the conversation should be a review of potential charges and costs. Some of the possible charges include (but are not limited to).
The deposit is a significant cost for the purchase of residential property. The higher the deposit, usually the lower the interest rate and the better the terms possible for the mortgage or financing. Most traditional lenders want a deposit of 10%, some will work with 5% and others will require 20% of the purchase price. In some cases,…
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