By The Dream Digs Team, September 9, 2020
Whether you’re a first time home buyer or buying for the first time in a long time, we can help you get a handle on the full costs of buying a home.
Down Payment:
Most people know that they need a down payment and that the rest of their purchase will be secured with a loan from a bank. The down payment typically ranges from 3.5% up to 20% of the purchase price. For a $500,000 home that equals $17,500 up to $100,000 in cash.
What else will you need to pay for? Inspections, appraisal, closing costs and prepaid expenses, repairs and updates.
Inspections:
One of your first steps in the purchase process is inspections. We recommend a general home inspection and if applicable, a sewer scope, radon test and oil tank locate plus soil sampling, if necessary. The total costs for inspections vary depending on size of house, which inspections you choose to complete and the inspector’s fees. We recommend budgeting $800 to $1,200 for all inspections.
Appraisal:
Toward the end of the inspection period your lender will order the appraisal. An appraiser will conduct a walkthrough of your new home and complete a report which determines the market value of the home based on specific calculations and assessments. Appraisals run $500 to $1,500.
Closing Costs:
At the end of your transaction you will be responsible for closing costs and prepaid expenses. Your lender will be able to tell you these costs once you are pre-approved. These fees average between 3% and 5% of your loan. Fees include things like title insurance, taxes, loan fees, homeowner’s insurance, home warranty (view it here), title insurance and escrow fees.
Now for the fun stuff:
Once your purchase is complete you get to pay for the fun stuff! Now that you own a new house, it’s time to make it your home. Final costs include repairs not included in the transaction, updates of your choosing and new furniture fabric corner lounge.
About Us: Over the course of their professional partnership, Aryne + Dulcinea have helped over 200 clients prosper in their new lives. During this time, they have prided themselves in their top-notch selling abilities, with homes outperforming market standards, consistently exceeding list price while most of their listings sell in under 7 days. Whether you’re looking to buy or sell, Aryne & Dulcinea will work in collaboration to guide you in investing in your future and reaching your real estate goals.
THE DREAM DIGS TEAM
Aryne + Dulcinea, Earth Advantage Principal Broker | Earth Advantage Broker | ADU Specialists | OR
The Dream Digs Team are full-service, high-producing agents, who know how to navigate the unique challenges facing the Portland real estate market. The secret to their success lies in their professionalism and complementary skill sets. In 2012, Aryne + Dulcinea seized the opportunity to combine their creative and technical acumen to create a values-driven, client-driven team unlike any other. We are expert negotiators and project managers with a strong background in creative marketing. The Dream Digs Team are fierce advocates for our clients.
Our passion for real estate is connected to our commitment to the Portland way of life - a dedication to sustainability and appreciation for all things local. As Earth Advantage Brokers and ADU Certified Specialists, our team is savvy in all aspects of alternative living practices from versatile housing additions, green building practices, and revenue-generating strategies. Whether you’re looking to buy or sell, The Dream Digs Team will work in collaboration to guide you in investing in your future and reaching your real estate goals.
Dedicated to serving buyers and sellers with expertise, enthusiasm, and attention to detail, Aryne adeptly navigates the Portland real estate market. Licensed since 2005, she honors our clients' wants and needs using her sharp negotiating skills and professional know-how to achieve the best results for everyone she serves. Aryne loves the Pacific Northwest! Outside of work, she enjoys hanging out with her husband, listening to music, going on road trips, and talking about everything under the sun. She looks forward to visiting her grown-up kids at college and watching them succeed in all their endeavors. She loves yoga, hiking, dinner parties, podcasts, and embracing all that Portland offers.
Dulcinea thrives on working with clients with a range of real estate goals. Born and raised in Oregon, Dulcinea comes to real estate with a background in design and education. She is an award-winning professional and a steadfast advocate when working for our clients. She has a keen eye for preparing properties for listing and finding properties that best serve our buyers' objectives. Licensed since 2013, Dulcinea works in and around Portland. She is the mother of two and wife to her high school sweetie. In her free time, she stays busy with her family, traveling, creating community, cooking, gardening, making art, exploring, and dreaming big!
Click here to get to know Aryne + Dulcinea!- T: 503-380-5124
- aryne@livingroomre.com
