article thumbnail

12 Hidden Costs When Buying a House

Raleigh Realty

When many buyers consider the cost of purchasing a home, the mortgage payment is typically the expense that immediately comes to mind. Whether you are a first-time home buyer or an experienced buyer, you will want to familiarize yourself with all the costs of buying a home Your Real Estate Agent is not a cost to you as a buyer.

article thumbnail

Condo Vs. Townhouse: How Are They Different, And Which Is Right For You?

Quicken Loans

But, these days, an increasing number of home buyers are forgoing the detached, single-family home in favor of the more community-minded style of living that condos and townhouses provide. Even though townhomes are privately owned properties, they are still often part of larger communities that have their own homeowners association.

HOA 64
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Home Appraisals – What Do They Look For?

D Fritz Appraisals

Home appraisers are trained to inspect and measure your property and perform comparisons that result in an accurate valuation for the current housing market. Home appraisals are a vital part of the home buying process as they have a big influence on the amount a lending institution will loan the buyer. Renovation loan assessments.

Appraisal 106
article thumbnail

Who Pays Closing Costs in Texas?

Listing Spark

Below I’ll break down these fees in a few different categories like Title closing costs, lender closing costs, contractual closing expenses and then HOA (HomeOwners Association) expenses. Buyer and Seller will each pay an escrow fee at closing. Spark Title for example, does not pass along any of these to the buyer or seller).

HOA 36
article thumbnail

Who Pays for Closing Costs in Texas

Listing Spark

Below I’ll break down these fees in a few different categories like Title closing costs, lender closing costs, contractual closing expenses and then HOA (HomeOwners Association) expenses. Buyer and Seller will each pay an escrow fee at closing. Spark Title for example, does not pass along any of these to the buyer or seller).

HOA 36
article thumbnail

How to Find the Best Neighborhood for Your Lifestyle and Budget

Lamacchia Realty

Consider not just the rent or mortgage but also utilities, property taxes, maintenance costs, and, if applicable, HOA/condo fees. Property taxes can also vary significantly between neighborhoods, so be diligent and research these rates. Assessing your finances is a pragmatic step in the process.

article thumbnail

5 Expenses Homeowners Pay That Renters Don't

Zillow

Property taxes. As long as you own a home, you’ll pay property taxes. homeowner pays $2,110 per year in property taxes, meaning they’re a significant - and ongoing - chunk of your budget. The property tax rates vary among states, so try a mortgage calculator to estimate costs in your area.

HOA 36