What Should You Expect to Pay for a House

Video Transcript

"On behalf of Expert Village, this is Dan Kelly with Keller Williams Realty here in Miami Shores, Florida. I'm with the Kelly White Team, and today we're going to tell you how to buy a house. Here's the big question: What should I expect to pay for my first home. Well, what you're going to pay for your home is one thing. It's the hidden cost that I want you to be aware of. It's the closing cost. Asks your agent what those closing costs are because they usually run any where depending on the price of the home from 4 thousand up to 20-30 thousand dollars. It all depends on the price of the home, but be aware of those closing costs. Be aware of the inspection process. One of the first things after we enter in contract is we hire the inspector to come and inspect the home to make sure the roof is sound, the plumbing is good. That's 400 dollars. You have your deposit, which is usually 10-20% of the asking price, so we're talking a lot of up-front dollars. Be aware of that as you're going into the contract situation. There's lots of hidden costs. I don't want to scare you, but I want to warn you about that. Check with your agent, he's going to help you, he's going to help you. Ask about the closing costs, the inspection costs, the taxes. Very important, check it out. "