We all know that the trip is purchased expensive, but between the cost of closing the offer, inspection and repair and new accounts after moving, things are more difficult to add faster than expected.

Before you commit, real estate experts from the country are there to reveal some of the most common hidden costs of buying a house and help you understand how much money you will actually need for this great purchase of life.

Serious money

Once you save the home deposit and you finally find the space of your dreams, you might think it’s good to go. Unfortunately, it is not the only amount you will need to save.

“As soon as your offer is accepted, you will need to pay serious money within three working days,” says Broker Sunita Thaker. “It is usually 1% or 2% redemption price and is held in escrow until closing.”

The ecnandary money shows that you are serious about the process, and even though it goes according to your payment, you can lose it if you return from your purchase without giving solid reasons.

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Closing costs

Closing the contract and locking in the purchase of your new home, it’s exciting time, but it can be surprisingly expensive.

“I am always surprised by the number of customers who are not aware of the closure of costs, which are usually 2% to 5% of the purchase price,” says Realtor Evan Harlow. “They include fees for origin, evaluation and recording fees or pre-paid escrow for taxes and insurance.”

Home inspections

After placing in the offer, customers usually have a period of 1 to 2 weeks to start home inspections. They can be reviewed for the entire home or specific checks of elements such as structure, water heaters, septic tanks and potential pest infestations.

“Only the inspection can amount to 400 to $ 600, but repairs several smaller problems, such as outdated electric boards or cracks for foundations, will easily cost you between $ 2,000 and 8,000,” Harlow says.

Drainage and evaluation issues

If you have built a home from zero today, there are construction codes that require oblique land for regulating water flow. But some older homes are built on land without drainage, and this can cause a serious and expensive damage based on your home if it remains unchecked.

“Problems of drainage and evaluation allow you to see water, and repair can return between $ 3000 to $ 10,000,” says Harlow.

Communal service account changes

Although you can expect to increase your service accounts – especially if you buy a homework home – you may also face the costs to change addresses, interruptions to the contract or the establishment of new accounts.

“There may be transfer or fees for installation for internet, gas, electricity, water and garbage,” Thaker says. “If you rent, some of these fees may be covered, but homeowners must pay for all this.”

Insulation upgrades

During the first winter after moving in, look out for the rooms that are colder than other, thermal and unexpectedly high heating bills. If things feel cold instead of a pleasant, real estate developer Jake Greenhouse recommends verification of insulation.

“Many older homes have insufficient or outdated insulation, which can lead to drafts, inconsistent internal temperatures and higher utility services,” he says. “Insulation upgrade, usually costs $ 2 to $ 3 per square meter, can significantly improve energy efficiency and comfort.”

Window repairs, doors and roofs

Other joint culprits behind high heating are draft windows and doors, and damaged roofs that need repair; They often fly under the radar until you don’t actually move in. Time insulation can be another hidden cost.

“Repair and replacement (windows, doors and roofs) can range from 5000 to $ 30,000,” Greenhouse says.

Host association fees

Depending on the neighborhood, your newly purchased home can fall in the homeowner association (HOA). They have a reputation for strict rules on the maintenance of yard and external decor, and also come with additional costs.

“Customers may have monthly, quarterly or annual fees for assistance in the management of common areas, neighboring parks, pedestrian trails and community events,” Thaker says. “These $ 200 to $ 300 a month, but it can be over $ 500 in certain areas.”