First Time Home Buyers in Temecula and Murrieta and first time home buyers in Riverside and San Diego Counties, watch out for the extra costs.
First Time Home Buyer Hidden Costs
I’m not talking about the “hidden costs” that magically appear at closing (New government regulations taking effect on January 1, will stop that), but rather the costs that you as a first time home buyer didn’t take into account when you started your home search in Temecula, Murrieta and other parts of Southern California. Homeowners should have 1% of the purchase price of their home in savings for improvements and surprise expenses, he says. “That is the absolute minimum. It’s better to have 2% to 3% socked away somewhere.”
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Having enough “cash to close” is very often the most difficult part of the real estate transaction for most first time home buyers. Meeting with a First Time Home Buyer Specialist before you begin your home search will help you determine how much you money you will need for closing and if necessary, he/she will help you work out a plan to get there.
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