Home Improvement

How Much Does It Actually Cost to Buy a House?

Thinking about buying a home sometime soon? If so, it’s obviously going to cost a pretty penny to purchase a property.

Even if you buy a small house in a remote location, you’re still going to have to be prepared to spend tens of thousands of dollars on it. There are also all kinds of home buying fees that you’ll need to take into account.

So, how much does it actually cost to buy a house? That’s precisely what we’re going to discuss today.

Here are the most common costs associated with the home buying process.

The Price of a Home

The first thing that you’ll need to consider when you’re trying to calculate the cost to buy a house will be the price of a home itself. This sits at right around $140,000 on average. But of course, the price of a home will be based on everything from its location to its size.

Many people make the mistake of thinking that the price of a home is also the cost to buy a house. But you should be aware of the fact that this is not the case when you’re looking around at different homes for sale. There will also be other costs that will come up later.

Closing Costs

When you buy or sell a home, there will always be closing costs that come along with it. Closing costs will cover things like:

  • Real estate commissions
  • Mortgage underwriting
  • Title insurance
  • Surveys
  • And more

The good news for those buying a home is that sellers will often agree to pay closing costs to entice people to purchase their houses. But if the market is red-hot like it is now, buyers might also be expected to chip in to help cover closing costs. It could very well add to the cost to buy a house.

A reputable realtor from a company like Top Guns Realty can explain this to you further while showing you great homes for sale.


Prior to giving you a mortgage, many lenders are going to want to make sure that you have enough money stockpiled away in the bank to cover mortgage payments. More often than not, they’ll ask you to show that you have at least two months’ worth of mortgage payments set aside in a savings account.

This might not technically be a “cost” so to speak. But it is additional money that you’re going to need to earmark when you’re figuring out how to buy a house. You should be sure that it’s on your radar and doable on your part.

The Total Cost to Buy a House Will Vary

At the end of the day, it would be impossible for us to sit here and tell you the total cost to buy a house. It’s ultimately going to depend on which house you buy, how much you have to pay in closing costs, and what your mortgage lender wants to see you save in reserves.

You can get a better idea as to what a home will cost by shopping around for one today. It’ll give you a glimpse at what you’ll need to be ready to spend on a new home.

Find out more about buying a home by taking a look at the other articles on our blog.


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