Luxe Key Realty, LLC.
Olga Rodriguez, Luxe Key Realty, LLC.Phone: (786) 217-7347
Email: [email protected]

What Is the Cost of Buying a House?

by Olga Rodriguez 11/12/2018

Before you embark on a search for your dream house, it helps to know what to expect during the homebuying journey. If you understand the true cost of purchasing a home, you can map out your property buying strategy accordingly.

Now, let's take a look at three factors that may impact how much you spend to acquire your ideal residence.

1. The Price of a Home

The initial asking price for a house is not necessarily set in stone. In some instances, you may be able to negotiate with a seller and receive a lower price.

However, regardless of the price you negotiate with a seller, you are responsible for paying for a residence. And if you fail to receive a mortgage, you may struggle to make your homeownership dream come true.

It often helps to get pre-approved for a mortgage. That way, you can enter the housing market with a budget in hand. Pre-approval for a mortgage also may enable you to speed up your home search and ensure you can quickly discover a residence that falls within your price range.

2. Closing Costs and Other Homebuying Fees

After a seller accepts your offer to purchase his or her home, there may be various fees that you'll need to pay to finalize your house purchase.

For instance, a buyer who conducts a home inspection will need to pay for this evaluation. He or she likely will need to pay for an appraisal and any closing costs as well.

As you get ready to pursue a house, you may want to put aside extra funds for any potential costs you may encounter throughout the homebuying cycle. Because if you have the necessary funds at your disposal, you may be better equipped than ever before to seamlessly navigate the homebuying journey.

3. Moving Expenses

After you buy a home, you will need to relocate all of your belongings to your new address. To do so, you probably will require moving boxes and packing supplies to ensure your personal belongings can safely reach your new house. As such, you should account for these expenses prior to starting a house search.

Of course, you may want to hire a moving company too. If you want to find out what it costs to hire professional movers, you may want to receive quotes from multiple local moving companies sooner rather than later.

If you need help getting ready to search for a home, a real estate agent is happy to assist you. A real estate agent can offer lots of insights into the potential costs you may encounter at each stage of the property buying journey. In addition, a real estate agent will help you narrow your search for your dream house, conduct home showings and much more.

Start planning for potential costs associated with the homebuying journey – you'll be glad you did. If you budget for the property buying journey, you could increase the likelihood of enjoying a quick, stress-free homebuying experience.

About the Author
Author

Olga Rodriguez

Olga L. Rodriguez, Realtor I am a customer-service-oriented real estate agent who helps home buyers and sellers in Florida, in the cities of Miami, Kendall, Coral Gables, Hialeah, Palmetto Bay and Miami Beach. If you're looking for an agent with patience, perseverance, and a passion for helping people, you've just found her! My working experience I received my real estate license in 1986. Since that time I have worked in the real estate field both part time and full time. When raising my children I worked as a teacher and part time real estate agent. I have also worked as a real estate paralegal, and appraiser. Working as a teacher I learned the skills of patience, perseverance, and being organized. My paralegal experience allows me to efficiently explain legal documents to my clients. The knowledge that I gained from working as an appraiser allows me accurately price the homes of my sellers and advice my buyers on the price of their purchases. My love for math, negotiating, business and my passion for helping people has led to choose real estate as my preferred profession. As a realtor I can truly say, "I love my job”. What Makes Me Different from Other Agents Service: I strive to exceed my clients' expectations in all aspects of the real estate process by providing excellent customer service and effective negotiating practices. Education: Success in real estate starts with education. You have to understand the nuances of the local market, the dynamics of supply and demand, and how these things affect buyers and sellers. I make sure that my buyers and sellers are well informed at every step of the process, so they can make smart decisions. Contact: Buyers, sellers and renters have a lot of questions during their real estate transaction. I let them know what is happening every step of the way during their real estate transaction. I am available at all times and can be reached by phone, text, or email. A Smoother, Less Stressful Real Estate Experience Buying, selling or renting a home can be exciting, but it can also be stressful. That's why I work extra hard to keep my clients informed, and to make the process as smooth as possible. In my free time I enjoy traveling, visiting new cities, states and countries. I also enjoy swimming, cycling, and boating.