Your down payment is one piece of the puzzle. Here's every cost you need to budget for — before and after closing.
Use Our Free Mortgage Calculator →Most buyers focus on the purchase price and down payment. But the full cost of buying is significantly higher — and understanding every line item before you shop protects you from costly surprises at the closing table.
| Cost Item | Typical Range | Notes |
|---|---|---|
| Earnest Money Deposit | 1–2% of purchase price | Applied to your purchase at closing |
| Home Inspection | $350–$600 | Always worth it — paid upfront |
| Appraisal Fee | $500–$900 | Required by most lenders |
| Lender Closing Costs | 0.5–1% of loan amount | Origination, underwriting, processing |
| Title Insurance | $1,000–$2,500 | Protects your ownership rights |
| Transfer Taxes | Varies by municipality | Can range from hundreds to thousands |
| Prepaid Interest | Depends on closing date | Interest from close date to month-end |
| Homeowner's Insurance | $1,200–$2,400/yr | First year often paid at closing |
| Moving Costs | $500–$3,000+ | Commonly overlooked in the budget |
| Immediate Repairs/Updates | Varies widely | Budget 1–2% of home value annually |
A practical rule of thumb: beyond your down payment, plan to have an additional 3–5% of the purchase price available for closing costs and immediate move-in needs. On a $350,000 home, that's $10,500–$17,500 on top of your down payment.
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