Buying a home this spring? Be aware of these 5 unexpected costs

News

Buying a house can be expensive.

The typical U.S. home will set you back $331,533, according to Zillow, up 20% in the last year.

But the mortgage amount most likely won’t cover all of the upfront costs homebuyers will face.

Check out this video for a full breakdown of what costs to expect and how much you should have in savings before making your big purchase.

More from Invest in You:
Retirement is expensive — here’s how much you really need to save for it
Here’s how to invest your money if you are saving for your next vacation
Here’s how you can save $500,000 for retirement on an annual salary of $35,000

SIGN UP: Money 101 is an 8-week learning course to financial freedom, delivered weekly to your inbox. For the Spanish version, Dinero 101, click here.

CHECK OUT: This teen got nearly 100 classmates to join an investing club and collected $120,000: Here are his top tips for getting started with Acorns+CNBC

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.

Products You May Like

Articles You May Like

Young adults in Puerto Rico are struggling financially. Here’s what that means and why some return
Homebuilder deal activity is surging, fueled by major Japanese buyers
First-time homebuyers are now older than ever as the housing crisis deepens
What’s behind Salesforce’s record highs — plus, a possible stock to buy after this week’s earnings
Here’s what the Trump presidency could mean for the housing market, experts say

Leave a Reply

Your email address will not be published. Required fields are marked *