Coldwell Banker Residential Brokerage
Liza Vernazza, Coldwell Banker Residential BrokeragePhone: (650) 218-8040
Email: [email protected]

Homebuying Costs You Need to Know About

by Liza Vernazza 06/02/2019

If you plan to purchase a house in the foreseeable future, it generally is a good idea to plan ahead for all of your potential homebuying costs. That way, you can secure the funds you need to purchase your dream house.

Now, let's take a look at three costs that every homebuyer needs to consider during the property buying journey.

1. Credit Report

A lender likely will request a verified credit report before it provides you with a mortgage. The fee for a credit report usually is minimal, but it is important to note that this fee adds to the overall cost of purchasing a house.

Oftentimes, a homebuyer can get pre-approved for a mortgage and pay a credit report fee prior to conducting a house search. On the other hand, if a buyer wants to secure financing from a lender after he or she discovers the perfect house, the cost of a credit report may be incorporated into this individual's home closing costs.

2. Home Inspection

A property inspection is crucial, as it ensures a property expert can analyze a house and identify any underlying problems with it before a buyer finalizes his or her home purchase. As such, it is paramount to account for home inspection fees to ensure you have the funds available to hire an inspector who can perform an in-depth evaluation of a house.

The cost of a home inspection varies based on the size of a residence. Meanwhile, there is no need to forgo this evaluation. Because if you ignore a home inspection, you risk encountering costly, time-intensive problems after you buy a residence.

3. Pest or Mold Inspection

A pest or mold inspection is not a requirement if you purchase a new house. Conversely, if you purchase an older residence, it typically is beneficial to inspect it for pests and mold prior to finalizing your house purchase.

Pest or mold inspection costs vary based on a home's size and location. And if you feel a home may be susceptible to pests or mold, you should pay the necessary fees to conduct a pest or mold inspection. Otherwise, you could encounter home pests or mold that may cause major problems down the line.

As you prepare to pursue your dream residence, you may want to hire a real estate agent as well. If you have a real estate agent at your side, you can receive comprehensive guidance as you navigate the homebuying journey.

In addition to teaching you about homebuying costs, a real estate agent is happy to educate you about all aspects of the housing market. Plus, a real estate agent will respond to your homebuying queries and help you make informed decisions as you search for your ideal residence.

When it comes to purchasing a house, it helps to budget accordingly. If you consider the aforementioned homebuying costs, you can craft a homebuying budget and speed up your quest to discover your dream house.

About the Author
Author

Liza Vernazza

Since 1988 Liza has assisted her clients and friends to realize their dream of homeownership. Whether it be a small condo or a large home, with her strong people skills and negotiating skills, she has assisted them to buy or sell the property of their choice. 1031 Tax Deferred Exchanges, First Time Buyers, Move-up buyers and sellers, Probate and Trust sales are just a few of the types of transactions Liza is experienced in. Additionally, she has successfully represented investors, short sale transactions and bank owned or REO properties. If you are looking for a Realtor that is current with the market, give Liza a call and see the difference!

Education:

Liza recieved the Lifetime Million Dollar Club Award in 1990 only after two years in the Real Estate Business. As a graduate of Anthony's School of Real Estate and a member of the California Association of Realtors, National Association of Realtors and the local SAMCAR Board of Realtors, Liza is always actively pursuing educational opportunities to enhance and further her knowledge of the real estate business.

Professional Philosophy:

"I pledge to earn the loyalty of you, my client, and to be sensitive to your concerns and your needs. I will give you 100% of myself and I will share in your enthusiasm and excitement of finding that special home or marketing your old home. I have a love for my work and continue my education to strive for excellence."

Personal Background:

Liza has lived all her life in the San Carlos and Redwood City area. She is married with two beautiful children and one dog. Currently living in the Emerald Hills area of Redwood City, Liza has been an active volunteer and supporter of Roy Cloud School and and is a current volunteer and a member of the Parent's Association at Notre Dame High School.

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