How Much Does it Cost to Buy a Home

Let’s Take a Look at What it Cost to Buy a Home

The cost to buy a home is not limited to the number you offer or what you see on the flyer! And while most home buyers are very savvy when it comes to ‘crunching the numbers’ when it comes to the month to month requirements of home ownership, the conversation of what will it cost to buy ‘YOUR’ home should be had long before you head off to the closing table!

Whether you’ve purchased real estate in the past or are looking to become a homeowner soon, knowing exactly what it cost to buy a home can be a real eye opener if you don’t know the right questions to ask…or more importantly, who to ask!

Who is the best to help me understand how much it cost to buy a home?

Although your REALTOR® or just your agent (Yes, there is a difference) is arguably your first line of defense when it comes to protecting you and your investment, they may not always have the exact answers to your financial questions and the overall cost to buy a home.

This is not to say he or she is not educated or a wealth of knowledge and information about the home buying process and market conditions. But, sometimes the best professional to know what you’re exactly going to pay…to the penny…is a member of your team that you may not even know!

Meet the Team

Of course your REALTOR® is the best resource for the obvious cost to buy a home such as the cost of an inspection. But, getting to know who is handling your title and escrow for instance, can be a excellent resource for knowing where all those closing dollars are being spent.

Having a knowledgable person who is handling your closing paperwork will allow you to get a strong indication of your overall ‘Out of Pocket’ expenses that are not usually discovered or talked about during the flurry of activity of buying a home.

Below is a quick breakdown of who and what are involved in the transaction when figuring the cost to buy a home: 

  • Appraisal
  • Homeowners Association
  • Insurance Binder
  • Well and Septic Inspection
  • Lender
  • Credit Report
  • Private Mortgage Insurance
  • Title Policy
  • Escrow Fee (Closing Costs)
  • Property Taxes
  • Utilities (Gas, Phone, Sewer, Water, Garbage, Cable, Internet, Alarm System and good old fashioned Electricity)
  • Moving Expenses
  • Rekeying your doors

Knowing the cost to buy a home after you bought the home

The above list may be something many buyers have planned for. But, what about all those ‘goodies’ after you close? These are expenses new homeowners can put off but it’s not long before you have to address certain items to insure your largest investment keeps its value.

  • Paint – You will ultimately want to put your own ‘stamp’ on your new home. Best way to do this is with a fresh coat of paint. An expense that can be put off but your heart wants what your heart wants and sooner than later…you will want to paint believe me!
  • Windows – Upgrading your windows to a more energy efficient system is a common first expense. This can save you hundreds if not thousands in energy bills in just the first few years of homeownership and money well spent!
  • Landscaping – I’m not talking about a complete redo but you will want to maintain your lawn and pretty flower beds and that takes a lawnmower, flower food and more than likely, a whole bunch of new flowers and pretty pretty’s from your local home and garden center.
  • Appliances – This can wait but it’s not a bad idea to at least have a budget for a dishwasher or dryer just in case the worst happens and they conk out on ya!
  • Furniture – Also considered more of a luxury than a necessity but you know as well as I do that you never have enough furniture to fill up your new home!

Of course the one cost to buy a home you NEVER have to concern yourself with…

You never pay your REALTOR® a commission when you buy your home! That’s right…some buyers are unaware that the cost of working with an experienced and knowledgable Real Estate Professional like myself is absolutely FREE TO YOU!!! 

To learn more about the cost to buy a home or a more in depth breakdown of what I’ve covered here, please contact me directly at the information below and I’d be honored to answer all your home buying questions!



SimonsI am passionate about Real Estate and eager to answer all of your real estate questions! Text or Call me at 360-880-2356 or email me directly to ask about Buying, Selling or Investing in today's Real Estate Market - serving Lewis County & Thurston County, WA.

Janet Simons | Certified Residential Specialist | Real Estate Broker
Mountain Valley Real Estate