What Closing Costs Will You Pay?

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What Closing Costs Will You Pay?

Published April 19, 2019 | Markets | Motley Fool

When you buy a home, the cost of the house isn’t the only thing you need to pay for. There are a host of other expenses you’ll incur, from inspection fees to make sure the house is structurally sound, to fees for your loan, to costs associated with transferring the property.

Many of the costs you incur as part of the home purchase are paid when you go to a lawyer’s office or a title office and complete the transaction that transfers ownership. These costs are called closing costs and Zillow estimates these fees can add up to around 2%-5% of the home’s value.

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