Costs When Buying a Home in Houston

When buying a home in Houston, there are many initial expenses that may arise. You’ll want to have money set aside for the house deposit, a home inspection and an appraisal. You’ll also need to organize your homeowners insurance. Houston homeowners can be better prepared by saving for these initial outlays.

Let’s look at a few of these expenses in more detail:

•Earnest money may be necessary when you submit a contract on a house. It helps provide security to the seller and shows you are a serious buyer. The amount you need for this can differ. When you close on the deal, this money is applied to the sale. 

•A house inspection is often recommended before you buy your dream home. Again, costs vary but an inspection may cost anything from $250 upwards. The inspector will tour the home and aims to identify any flaws, to help you make the right decision.

•Once the option period has expired and you and the seller have settled on necessary repairs, you may have to pay an appraisal fee.  This costs around $300 and is paid to your mortgage lender. 

These are just some of the costs you may need to pay when buying a new home in Houston. Of course, once you find your dream home, you’ll need to arrange homeowners insurance Houston coverage. Speak with our team today and let us help you compare quotes and plans.

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