Determining how much money you need to buy a house has always been daunting for first-time homebuyers, but the current housing market feels like a new level of frustration.
Between home prices hitting record highs and mortgage rates surging, thinking about your budget can feel downright maddening. Here are the costs to consider when buying a home.
➡️ Down payment (Typically between 5%-20% of purchase price depending on your loan)
➡️ Closing costs (Typically 2-5% of your mortgage loan principal)
➡️ Moving (Avg. cost $1,600 for a move under 100 kilometers)
➡️ Home Owner's Insurance
Do you have questions? I'd be happy to answer them for you! Give me a call anytime!
Gary 'Mr Action' Fayerman