Buying a home is an exciting investment — but understanding the costs involved helps you plan confidently and avoid surprises. Here’s a breakdown of the typical expenses you can expect before, during, and after your purchase, adapted from our Buyer Kit.
Upfront
Expense
Typical Cost Range
Purpose
Earnest Money Deposit
~1% of Purchase Price
A good-faith deposit showing you’re serious about buying. Applied toward closing costs or down payment.
Home Inspection
$400 – $800
A full evaluation of the property’s condition to identify potential issues.
WDO / Termite Inspection
$150 – $300
Checks for wood-destroying organisms, often required by lenders.
Survey
$500 – $800
Confirms property boundaries and identifies encroachments.
Appraisal
$600 – $1,000
Ordered by the lender to verify the property’s market value.
Septic Inspection (if applicable)
$350 – $450
Ensures proper function of private septic systems.
Pool Inspection (if applicable)
$150 – $250
Evaluates pool structure and mechanical systems.
Stucco Inspection (if applicable)
$300+ (*approx. depending on square footage)
Checks for cracks or moisture intrusion behind stucco.
Down Payment Options
Your down payment is a portion of the home’s purchase price paid upfront at closing.
Different loan programs require varying minimums:
Loan Type
VA
USDA
FHA
Conventional
Typical DownPayment
0%
0%
3.5%
3% – 30% (based on credit and loan terms)
Tip: Your lender will help determine which program fits your financial goals best. We can connect you with trusted local lenders for a smooth approval process.
Additional & Closing Costs
Expense
Title Insurance
Loan Origination Fees
Homeowners Insurance
Buyer Agent Commission
HOA Fees (if applicable)
Details
Varies with Purchase Price
Varies by Lender
Varies by Carrier
Varies with negotiation
For community maintenance or amenities
Recurring Monthly Costs
Once you’ve moved in, you’ll have ongoing monthly expenses to plan for:
– Mortgage Payment: Principal + interest (varies by loan type and rate).
– Property Taxes: Typically included in your escrow payment.
– Homeowners Insurance: May be part of your escrow or billed separately.
– Utilities: Electric, water, gas, trash, internet, etc.
– Maintenance & Repairs: Budget 1%–2% of your home’s value per year for upkeep.
– HOA Fees (if applicable): For community amenities and services.
Our team provides Cost-to-Own Reports for your shortlisted properties — outlining estimated taxes, insurance, and maintenance costs — so you can make informed decisions.
The Talley Group believes that homeownership is not just about the numbers — it’s about building your future. We’ll help you find a property that fits your lifestyle and financial goals, balancing comfort, investment potential, and long-term value.
Quick Links
The Homebuying Process
Closing Day Guide
Explore Buyer Resources
RECENTLY Sold
Mortgage & Loan Guide
Buyer FAQs
