This is the third article in a 3-part blog series on first time home buying tips. So far, we’ve covered Part 1 (insert link)and Part 2 (insert link).
First Time Home Buying Tips – “Up-front” Costs of Buying a Home
- Radon testing – The subject of Radon is too length a conversation for this blog post, but feel free to email me at DarrenRobertsonHomes@gmail.com for more information on it. If you’d like a Radon test, it will cost you around $100 - $150.
- Appraisal Fee – Although your appraisal is technically a closing cost, lenders typically arrange for you to pay this fee up front after you have a contract on a property, usually via credit card. You should plan on your appraisal costing around $475 or $500.
- Money set aside for an emergency – It’s hard enough if you’re behind on rent checks, utilities, medical bills etc., but it’s a terrible feeling when you start missing mortgage payments, since you actually own the home. It’s always a good idea to start setting aside some money for a rainy day, once you make a decision to start saving for your home purchase.
Buying a home can be one of the most exciting adventures of your life, and keeping in mind the first time home buying tips outlined in this article will make it as stress-free as possible!
Are you currently renting, but you’ve thought about possibly taking the next step toward your home ownership goals? I’d love to help you in your home search! Call me at 703-462-0700 or email me at DarrenRobertsonHomes@gmail.com to find out if you qualify for a zero money down loan! Also, ask me for my report on the top 10 first time home buying tips for Northern Virginia homebuyers.