10 Costs Associated with Buying a Home
A common question I hear from first-time buyers in Kirkland, across the Eastside, and in Seattle is: “What does it really cost to buy a home?” While your down payment gets the most attention, there are several other expenses you’ll want to plan for. Understanding these costs upfront helps you feel prepared, confident, and in control.
Here are the 10 most common costs associated with buying a home in the Greater Puget Sound.
1. Earnest Money Deposit (EMD)
This is your good-faith deposit when making an offer.
It’s typically 1–3% of the purchase price in Kirkland and surrounding Eastside areas.
It’s not an extra fee—it goes toward your down payment or closing costs.
2. Down Payment
Down payments are flexible. Many first-time buyers in Seattle and the Eastside purchase with 3–5% down, while others choose higher amounts for lower monthly payments.
3. Closing Costs
These usually range from 2–3% of the purchase price and may include:
lender fees
title insurance
escrow fees
recording fees
I help you estimate these early in the process.
4. Home Inspection
A professional inspection in the Greater Puget Sound typically costs $500–$800, depending on the size and age of the home.
Specialty inspections—such as sewer scopes or mold tests—may be additional.
5. Appraisal Fee
If you're financing the home, your lender will require an appraisal.
The cost is generally $700–$1,000, depending on location and complexity.
6. Homeowners Insurance
Insurance costs typically range from $800–$1,500 per year, depending on the property and coverage level.
7. Property Taxes
Property taxes vary by city.
For example, Kirkland and Redmond may differ slightly from Seattle or Bothell. I help you review estimated taxes for any home you’re considering.
8. HOA Fees (If Applicable)
Condos and some townhomes come with HOA dues. These can range from $250–$700 per month, depending on amenities, location, and building age.
9. Moving Costs
Moving expenses vary based on distance and amount of belongings.
Whether you’re moving within Kirkland or relocating from Seattle or beyond, it’s helpful to budget for:
movers
packing supplies
storage
10. Immediate Repairs or Improvements
Even well-maintained homes may require small updates early on:
paint
lighting
hardware
landscaping
I’ll help you identify these before you close.
FAQ
Are these costs the same for every buyer?
Not exactly. Costs depend on your loan type, the property, and the location.
Can sellers cover any of these costs?
Sometimes. In certain market conditions, we can negotiate seller credits to help offset closing costs.
Do I need all these funds upfront?
Some costs occur at closing, while others come later. I help you plan the full timeline.
If you're thinking about buying a home in Kirkland, on the Eastside, or anywhere in the Greater Puget Sound, I’m here to help.
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