If your lending institution requires an appraisal of the property, it will be your responsibility to cover the cost. Appraisal fees can range from around $175 to $300 depending on the provider.

It’s important to know that your lending institution might include your property taxes in your monthly mortgage payments, depending on the amount of your downpayment. If your monthly payments don’t include property taxes, you may be required to provide annual confirmation of tax payment to your lending institution.

If you’re buying a resale home, your lending institution may request an updated property survey, which may cost anywhere from $700 to $1,000.

Home insurance provides coverage for the replacement value of your home’s structure and contents. It’s important to note that your lending institution will require proof of insurance as it safeguards their investment on the loan.

Keep in mind that installation fees may apply for any new utilities, such as telephone or cable, that are added to your service.

No matter how straightforward a home purchase may seem, it’s always best to have a lawyer review the paperwork. Remember that lawyer rates can vary depending on the complexity of the issues and the lawyer’s experience, so it’s wise to shop around.

Mortgages that require mortgage loan insurance are dependent on the equity of your home. This insurance typically costs between 0.5% – 3.5% of the total mortgage amount, with monthly payments in addition to your mortgage and tax payment.

It’s common for a mortgage broker to charge a fee for their services in finding a lender and organizing financing. However, it’s worth comparing different brokers, as many offer their services at no cost to you by having the lending institution bear the expense.

The cost for a professional mover can cost you in the range of:

• $50-$100/hour for a van and 3 movers, and
• 10-20% higher during peak demand seasons.

If you are planning to buy a Condominium, it requires monthly fees to maintain communal areas like grounds and hallways. Costs will differ depending on the building.

If your home relies on a well for water, it’s worth considering having it inspected by local professionals. You may be charged a fee for assessing the water’s quantity and quality depending on your location.

Local improvements like adding sidewalks or sewers to your town can significantly impact your property’s taxes by thousands of dollars.

Whenever there is a change in property ownership, a tax is imposed, and the amount can fluctuate.