Key Homebuying Costs You Need to Know About

by THE CUOMO TEAM Kimberly Cuomo 01/19/2020

If you plan to purchase a house in the foreseeable future, it generally is a good idea to plan ahead for all of your potential homebuying costs. That way, you can secure the funds you need to purchase your dream house.

Now, let's take a look at three costs that every homebuyer needs to consider during the property buying journey.

1. Credit Report

A lender likely will request a verified credit report before it provides you with a mortgage. The fee for a credit report usually is minimal, but it is important to note that this fee adds to the overall cost of purchasing a house.

Oftentimes, a homebuyer can get pre-approved for a mortgage and pay a credit report fee prior to conducting a house search. On the other hand, if a buyer wants to secure financing from a lender after he or she discovers the perfect house, the cost of a credit report may be incorporated into this individual's home closing costs.

2. Home Inspection

A property inspection is crucial, as it ensures a property expert can analyze a house and identify any underlying problems with it before a buyer finalizes his or her home purchase. As such, it is paramount to account for home inspection fees to ensure you have the funds available to hire an inspector who can perform an in-depth evaluation of a house.

The cost of a home inspection varies based on the size of a residence. Meanwhile, there is no need to forgo this evaluation. Because if you ignore a home inspection, you risk encountering costly, time-intensive problems after you buy a residence.

3. Pest or Mold Inspection

A pest or mold inspection is not a requirement if you purchase a new house. Conversely, if you purchase an older residence, it typically is beneficial to inspect it for pests and mold prior to finalizing your house purchase.

Pest or mold inspection costs vary based on a home's size and location. And if you feel a home may be susceptible to pests or mold, you should pay the necessary fees to conduct a pest or mold inspection. Otherwise, you could encounter home pests or mold that may cause major problems down the line.

As you prepare to pursue your dream residence, you may want to hire a real estate agent as well. If you have a real estate agent at your side, you can receive comprehensive guidance as you navigate the homebuying journey.

In addition to teaching you about homebuying costs, a real estate agent is happy to educate you about all aspects of the housing market. Plus, a real estate agent will respond to your homebuying queries and help you make informed decisions as you search for your ideal residence.

When it comes to purchasing a house, it helps to budget accordingly. If you consider the aforementioned homebuying costs, you can craft a homebuying budget and speed up your quest to discover your dream house.

About the Author
Author

THE CUOMO TEAM Kimberly Cuomo

The Cuomo Team - 24 years experience serving South Florida's Real Estate needs!

Specializing in Residential and Commercial Real Estate Services - 

I am a dedicated Realtor specializing in Palm Beach, Martin, and St. Lucie Counties. The commercial division of our team covers Central Florida, and all of South Florida including Broward and Dade Counties. 

I pride myself on being honest and professional. I have been committed for the past 24 years to have all of my clients 100% satisfied with my services, at all times- from the first time home buyer, luxury client, to commercial property investor- and everything in between! In this ever-changing marketplace, it is imperative to have an experienced Realtor. It can make all the difference in the world in your transaction! I have been successful in accomplishing this based on a long list of satisfied clients! I would be honored to help you buy or sell your next property! 

I have lived in the local area for over thirty years. After college, I worked as a paralegal for five years before deciding to go into the real estate profession in 1998. My husband, John, and I have resided in the Town of Jupiter for the past thirty years and consider it a great place to live, and have raised a family. We have two sons, 22 and 25.

One of my sons, Matthew Cuomo also works on our team, along with my daughter in law, Tasianna Cuomo. John, a retired firefighter from the Town of Palm Beach, works in the Commercial Division. My sister in law, Christine Cuomo Georgeou, also is part of our team, so that someone is always available to service any client, any time, 7 days a week! 

You can contact me directly anytime at 561-339-3002, and I will be happy to assist you with any of your real estate needs! I look forward to hearing from you!

Kim Cuomo

Keller Williams Realty

KW Commercial