Hidden Costs Many First-Time Homebuyers Have Never Heard Of

Many of today’s homebuyers are suffering from sticker shock—and not just over astronomical home prices.

Nearly half of homeowners, 44%, report they weren’t aware of the costs associated with buying a home, according to a Realtor.com® survey in July of nearly 3,000 adults, including 1,800 homeowners. (About 400 of the respondents were buyers who purchased a home within the past 15 months.) This includes paying for things like a home inspection, document fees, property taxes, home insurance, and title fees. About 11% weren’t even factoring in moving expenses.

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First Time Home Buyer Tips per Dave Ramsey

Dave Ramsey is financial guru whose advice has saved millions of people vast amounts of money. For a first time home buyer the house hunting process is often romanticized. It is a rite of passage of sorts. It is important though to think of a few key things before starting the process of buying a home. Fortunately Dave Ramsey has some first time home buyer tips to ensure that mistakes that could be costly are avoided.

Things to Never, Ever Do When Buying a Home

Buying a home is exciting and terrifying. After all, this is the biggest financial move most people ever make. As such, there’s a lot of room for error, and even tiny mistakes can translate to tens of thousands of dollars.

The lesson here: Even the most intrepid home buyer should get some guidance not only on what to do, but also what not to do. Look no further than this list, which highlights the most common mistakes buyers make so you can avoid the same fate.

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