When buying or selling real estate, don’t take the chance of not knowing what you’re doing. By carefully budgeting for the costs you will incur—some of which can be significant and some of which are less visible than others—you can avoid unpleasant surprises.
The following checklists are by necessity not thorough, so before you finalize your financial planning, you would be wise to seek specialized professional guidance and cost estimates.
It’s simple to under budget and overlook all the expenses you will incur in addition to the purchase price when buying a home, especially if it’s your first one.
Budgeting for expenses up to around 10% of the purchase price is one idea, but the following list will assist you in making your own calculations. Ignore any things that do not pertain to your purchase.
Ignore any costs not relevant to you.