06/03/2026
❌Drain your savings on a down payment❌
There are lots of expenses on top of the property’s purchase price in a real estate transaction, don’t stretch yourself too thin with your down payment that you can’t handle the other necessities & keep a rainy day fund!
🪪inspections— After receiving an accepted offer on a home, 9 out of 10 times you’re going to get a home inspection from a licensed inspector. This can range from $500-$900 depending on what inspections need to be done.
🚚 Move-in Expenses— Whether it’s hiring movers, or decorating your new home. There’s always some kind of moving expenses. Think about what these expenses look like for you before deciding your down payment.
💸Closing Costs— Closing costs are required fees and expenses that are paid at closing to finalize the real estate transaction. Closing costs typically range from 2%-5% of the purchase price. YOU’RE DOWN PAYMENT AND CLOSING COSTS ARE TWO SEPARATE FEES. I’m not yelling at you but this is something not many first-time home buyers know because they don’t teach you that in High School.
& Don’t even get me started on a Rainy Day Fund! There is so much to learn as a first time home buyer but, you don’t have to do it alone. I am always open for any questions!
📲419-376-1473
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