Published May 29, 2020

What Extra Costs Come With Buying a House?

Written by Anderson Hicks Group

What Extra Costs Come With Buying a House? header image.

Here are the three main costs associated with buying a home.

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Welcome back to another episode of Real Estate Talk! Today I’m joined by Eric from the Anderson Hicks Group; he loves crime documentaries on Netflix and is a part-time magician. I asked him how much he can lift, but he refused to help lift me into the tub. Anyway, he’s answering my questions about the extra costs associated with buying a home.

Let’s say I want to buy a mansion—what costs are associated with buying this house?

The main costs associated with buying a home are as follows:

1. Down payment. This will be between 0% and 25% of the full purchase price.

2. Earnest money. Turns out, this is not money you make by working harder. Instead, it’s money that goes toward the full purchase of the house, like a deposit. It’s putting your best foot forward, showing the seller you’re serious about the property.

3. Closing costs. Frequently, these will be paid by the seller, so there’s less money coming out of your pocket upfront.

The down payment will be between 0% and 25% of the purchase price.

So, if you want to buy a home, you have to know your costs, and the Anderson Hicks Group can help with it all. I’m not good at math… but they can get it all figured out.

Call or email AHG and they’ll help calculate all your related costs, and you’ll be in a new house by next Tuesday! (Disclaimer: Tuesday may be a little soon). Also, feel free to contact AHG with any questions about buying a property or real estate in general. They would be happy to help you.