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Florida Realty Investments

Key Homebuying Costs You Need to Know About

by Robert Lewis and Kathy Hile 01/21/2019

If you plan to purchase a house in the foreseeable future, it generally is a good idea to plan ahead for all of your potential homebuying costs. That way, you can secure the funds you need to purchase your dream house.

Now, let's take a look at three costs that every homebuyer needs to consider during the property buying journey.

1. Credit Report

A lender likely will request a verified credit report before it provides you with a mortgage. The fee for a credit report usually is minimal, but it is important to note that this fee adds to the overall cost of purchasing a house.

Oftentimes, a homebuyer can get pre-approved for a mortgage and pay a credit report fee prior to conducting a house search. On the other hand, if a buyer wants to secure financing from a lender after he or she discovers the perfect house, the cost of a credit report may be incorporated into this individual's home closing costs.

2. Home Inspection

A property inspection is crucial, as it ensures a property expert can analyze a house and identify any underlying problems with it before a buyer finalizes his or her home purchase. As such, it is paramount to account for home inspection fees to ensure you have the funds available to hire an inspector who can perform an in-depth evaluation of a house.

The cost of a home inspection varies based on the size of a residence. Meanwhile, there is no need to forgo this evaluation. Because if you ignore a home inspection, you risk encountering costly, time-intensive problems after you buy a residence.

3. Pest or Mold Inspection

A pest or mold inspection is not a requirement if you purchase a new house. Conversely, if you purchase an older residence, it typically is beneficial to inspect it for pests and mold prior to finalizing your house purchase.

Pest or mold inspection costs vary based on a home's size and location. And if you feel a home may be susceptible to pests or mold, you should pay the necessary fees to conduct a pest or mold inspection. Otherwise, you could encounter home pests or mold that may cause major problems down the line.

As you prepare to pursue your dream residence, you may want to hire a real estate agent as well. If you have a real estate agent at your side, you can receive comprehensive guidance as you navigate the homebuying journey.

In addition to teaching you about homebuying costs, a real estate agent is happy to educate you about all aspects of the housing market. Plus, a real estate agent will respond to your homebuying queries and help you make informed decisions as you search for your ideal residence.

When it comes to purchasing a house, it helps to budget accordingly. If you consider the aforementioned homebuying costs, you can craft a homebuying budget and speed up your quest to discover your dream house.

About the Author

Robert Lewis and Kathy Hile

Meet Rob: Your SpaceCoastFlorida.RealEstate Agent!

Internet Marketing is My game I use the Latest Technology to Help You Sell!

I specialize in the sale of new and existing homes in the Melbourne, Florida area . Prior to Real Estate I worked in IT Major Account and Channel sales in the Eastern Region for Hardware and Software companies like GE Capital IT Soliutions, Acer America, Minolta QMS Printing Systems and achieved some of the highest level awards for Sales Performance.
I have been a full time realtor for the last 16 years, I have sold some of the most inexpensive and the most expensive homes in Brevard County and I hope to sell your home or help you find the home of your dreams.

                                                                                                                                                           Why I'm Different

                               We hold as many open houses as you allow us to in order to sell your home !

Here's what my past clients have said about me. 

user201612; Rob is awesome. He went far above and beyond for my wife and I selling our house on short notice. He listed our house on a Thursday and had two offers by Saturday and a contract by Tuesday. Even thought the buyers were difficult Rob was amazing helping us through the process, so much so that while he was on vacation out of country he spent $200 on phone calls to deal with issues with buyer. Rob is a realtor who will fight for his clients and I highly recommend him.

user470297; I met Rob Lewis on Zillow, he's been my agent for the past 12 months, over the last year he has been my eyes and ears in the real estates world, he will not stop until he find the right home for you, I firmly believed that Rob is not in this for the money, but is a TRUE blessing to his clientele. 

user8751525; rob lewis is the best realty person we know. he answered every question we had quickly. he helped us find a house that we both liked. i would recommend rob lewis to anyone. He is an outstanding individual.