Thinking of Buying a House?  Make Sure to Save Enough $$

Do you dream of owning a house someday? Do you know how much to save? Do you know all costs that come with home ownership?

We have a break down of the various costs so you can work out the total sum you’ll need leaping into the property market.

How Much Money Should I Save Before Buying a House?

DOWN PAYMENT You must have a sizeable down payment (20% or greater) to avoid paying private mortgage insurance (PMI), which averages around 1% of the purchase price.

Private Mortgage Insurance If your credit history is poor or you cannot make a large down payment, this may be mandatory.

Closing Costs These fees cover the cost of the closing paperwork for the property. They also include legal fees, title searches, surveys, etc.   Closing costs vary by State.

Homeowners Insurance Premiums Some loans require mortgage insurance premiums. These may be paid once per month and protect the lender and owner from damage to the property.

SWIPE UP to see all costs that come with home ownership so you're prepared!