Purchasing a new home comes with certain cost obligations that you can’t forget to take into consideration. Here are the top three.
When purchasing a new home, there are three important costs you need to consider.
The first is a down payment. Depending on what type of financing you’re going with, you may owe anywhere from 0% to 20%. It’s somewhat of an urban myth that you have to put down 20%. In many cases, you don’t. If you’re doing an FHA loan, you can expect to put down just 3.5%.
There are other programs that allow you to put down only $1,000, and we highly recommend that you get in touch with one of our qualified loan experts to find out what type of financing product is best for you.
The second cost to consider is moving expenses. If you’re hiring a professional mover to take you from a home within the city, you can expect to pay anywhere from $1,000 to $2,000, depending on the size of the home you’re moving from. We offer a free moving truck to all our clients, so something like that might limit your cost obligations.
The last cost to consider is furniture. Most people are so excited to move into a new house that they don’t take into account the furnishings required to go along with that. Obviously, you wouldn’t have to furnish your new home right away, but this is definitely something you have to plan around when moving into your new property.
If you have any questions about other costs buyers should consider or you’re thinking of buying or selling a home in our Omaha market, don’t hesitate to reach out to me. I’d be happy to help.