A Few Hidden Costs of Buying a Home

HomeGate Realty Reno NV Alan Hoffman Realtor Reno Sparks NV Magda Martinez Realtor Reno NV Sparks NV Northern Nevada Homes

Are your weekends filled with virtual house-hunting and watching your favorite home improvement shows? Then it might be time to start truly considering making your dream of being a Nevada homeowner a reality. 

Before you jump right into the process of buying a home, there are often some hidden and unexpected fees that many new homeowners should be mindful of as they begin their search.

Closing Costs

While closing costs may seem obvious in the purchasing process, there are actually quite a few fees that many new homeowners need to be aware of as they finalize their purchase. Many of these fees include the application cost, insurance premiums, appraisal fees, and property tax. First-time homebuyers should expect to pay 2% to 5% of the home’s purchase price in closing costs.

Landscaping Fees

What was the state of your new home when you bought it? More often than not, newly purchased properties will require some initial repairs and maintenance to the exterior in order to fit your needs and desires. Whether this involves a freshly-paved driveway, a lawncare service, or several trips to your local nursery for stunning plants to add to your porch, the fees can quickly start adding up.

Updated Security

Every new homeowner should immediately focus on updating the security of their home. Some homeowners will need to pay for the monthly costs of a hardwired security system, while others may look into the purchase of a system like Ring cameras. Even if your new home has camera security, it can be important to update the system or make more purchases to cover additional areas in the home.

There are, of course, many more items that will cost large sums of money as you continue through the home-buying process. However, you can never be too prepared as a homeowner! Are you ready to take the first step? Contact HomeGate Realty to learn more about becoming a homeowner today. 

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