There are several costs of buying a home in Denver. The cost everyone knows about is the down payment. To learn more about down payment costs, check out this article. Beyond the down payment, there are four main costs. These include closing costs, inspection and appraisal costs, HOA costs or condo board fees, and property taxes.
Costs of Buying a Home in Denver Part One: Closing Costs
The first cost to be aware of is closing costs. These costs are typically less than 5% of the price of the home.
Costs of Buying a Home in Denver Part Two: Inspection and Appraisal Costs
The second set of costs to be aware of is inspection and appraisal costs. Inspection and appraisal are conducted by two separate people and carry separate fees.
Costs of Buying a Home in Denver Part Three: HOA or Condo Board Fees
The third set of costs to be aware of is HOA or condo board fees. Not everyone has to worry about these costs. They only apply where prospective homeowners are looking to buy a condo or a home in a planned community.
Costs of Buying a Home in Denver Part Four: Property Taxes
The final cost to be aware of is property taxes. You can learn more about property taxes in Denver here. On the bright side, homeowners can deduct property taxes at the end of the year!
Need Help Understanding the Costs of Buying a Home in Denver? Call Experienced Realtor Phyllis Ursetta
Are you still unsure whether you can afford to buy a home in Denver? Phyllis Ursetta, owner of Integrity Realty, has nearly thirty years of experience working in the Denver real estate market and she is prepared to talk you through it. Call Phyllis today to take the first step towards making your real estate dreams a reality!
