Page 9 - First Time Buyer's Guide

Preparing Your Finances
Before you start looking for a new home, it’s crucial that you shore

up and evaluate your finances. This will provide a strong foundation
for your search and keep you realistic about your options.

Up-Front Costs

In addition to the eight steps outlined, you will need to consider the
following up-front costs to help you determine the appropriate cash
reserves needed during the home buying process.
• Earnest Money Deposit - typically 1% of sales price
(consideration); a credit to you at closing to go towards down
payment and closing costs.

• Home Inspection Fee - $400 - $600 depending on size and
age of home.
• Apprisal Fee - $425 - $525

• Survey Fee - $425 - $725
• Termite Inspection - $50-$125

Other Moving Costs

Here are a final few things that you may want to budget for:
• New utility connections fees

• Moving van rental for DIY move
• Moving company fees

• Moving boxes
• Temporary storage if necessary

• Cleaning supplies or paid service

• New paint and/or flooring

Choose your Home,
Close the Deal,
and Get the Keys!

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