Are there hiden costs associated with buying a home?
March 12, 2014
You are right to realize there are other costs you might incur besides just the mortgage payment, closing fees, other commissions you may pay to the real estate agent and any other costs of the actual purchase. You don't want to do all you can to buy a house, then move in and have no money for a bed to sleep in or a couch to sit on. Some other expenses you want to factor in are insurance and taxes, which you will have to pay yearly, plus maintenance and improvement costs. You might assume you'll encounter these costs when you first move in, but remember, they may recur over the years as well.