To give would-be home buyers a better sense of the budget they’ll need to buy and maintain a home, U.S. News spoke with a handful of real estate experts and compiled a list of 12 hidden costs of homeownership: [Slide Show: 12 Hidden Costs of Homeownership.] 1. Home inspection.
Homeownership is a commitment that comes with a variety of costs. Access tips for first-time homebuyers or contact DATCU for assistance. Typically, home buyers will pay between 2-5% of the purchase price of their home in closing costs. According to a recent survey , homebuyers pay about $3700 in closing costs.
I recently found a nice townhouse in my neighborhood that costs 25 times my. Even if millennials are putting off having kids (which are expensive to raise). rather find a place in their preferred location, which also drives up prices.. ” Sales to first-time buyers have been underwhelming for several years.