Nobody thinks about these costs when deciding if they can afford to move!!
It's not the most exciting part of buying a house. But it's definitely an important one!
Closing costs are the fees and expenses that you'll need to pay when you close the deal on your new home.
These costs include lawyer fees, title insurance, home inspection fees, and land transfer tax.
The total amount you'll have to pay for closing costs varies. But it's usually somewhere between 2-4% of the purchase price.
So, if you're buying a $500,000 home, you might need to budget an extra $10,000-$20,000 for closing costs.
It's important to budget for these closing costs.
You don't want to be caught off guard when it's time to sign on the dotted line.