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Unexpected Costs of Buying a Home in Boulder, CO

By April 8, 2022 No Comments

Unexpected Costs of Buying a Home in Boulder, CO

If you’re getting ready to buy your first home in Boulder, you’ve probably already saved up for a down payment and put money aside for renovations and new furniture. 

But have you thought about all the costs that come with buying a home? 

There are a lot of hidden expenses many first-time buyers don’t know to budget for, and they’re left short at the end of the sale. 

To help you plan a full budget, we’ve covered all the unexpected costs of buying a home in Boulder in this guide. 

If you’re still looking for the perfect place to live in Boulder, here are the best Boulder neighborhoods for families.

Closing Costs

Asa first-time buyer, one of the first hidden costs you’ll be hit with is the closing fees. These are the fees you pay so the title of the property can be transferred to you, including an application fee and homeowners insurance premiums. 

On average, you’ll pay between 2% and 5% of the purchase price in closing costs. 

Home Inspections

Home InspectionsIt’s always advisable to get a home inspection before you buy a house. This will let you know if there are any hidden problems that could end up costing you a lot of money to repair once you’re the owner. 

It might even highlight a dealbreaker that means you walk away from the sale. 

Anything from cracks in the foundation to issues with the roof will be picked up on a house inspection, so you’ll be glad you invested in it. 

On average, you’ll pay between $300 and $450 for a standard home inspection. 

Taxes

Many lenders roll the property taxes into the monthly mortgage payment, so you might not notice this when you’re budgeting. However, it’s still important to know what you’re paying in property taxes. 

The price you pay varies depending on where you live, but it works out at around 1.1% of the property value. You’ll find property tax estimates on most real estate listings so you’re not caught off guard.

Moving Expenses

Moving ExpensesMany people forget to budget for this hidden cost, but you have to get all your stuff to your new home!

Whether you hire a moving team or rent a truck, there will be moving costs involved. On average, you’ll spend around $1400 on moving expenses in the US. 

Home Maintenance

When you move in, your new home will need maintenance, especially if it’s older and has been poorly maintained. From replacing a water heater to getting the gutters cleaned, there are countless home maintenance tasks you’ll need to budget for. 

It’s difficult to give a number for this one. Your maintenance costs will depend on the age and size of the home, but you’ll want to put some money aside for updates and repairs. 

Utilities

If you’re a home buyer moving from a rental property to a home, or even moving from a smaller home to a larger one, you might be shocked by the increase in utility costs. 

On average, utilities cost a family $2060 a year, but these numbers are going up with the rising cost of fuel.

When you’re planning your budget, don’t forget to factor in:

  • Electricity
  • Water and sewer
  • Gas
  • Internet

Look up the average cost of each in your state to get an idea of what you’ll need to spend every month.

Homeowners Association Fees

Homeowners Association FeesMany neighborhoods charge a monthly or annual HOA fee. This is collected by the neighborhood homeowners association and the funds are then used for groundskeeping, community facilities, lawn care, etc. 

This is a separate expense from your property tax and mortgage, so you’ll need to budget this on top. They can range from $200 to $3000 a month, depending on your neighborhood.

Home Appraisal

A home appraisal is an integral part of the buying process, but most buyers don’t know they need to pay for one to be carried out. 

It’s important because it’s an unbiased, professional review of the home value. This ensures you’re not overpaying and lets the bank know that your mortgage is suitable for the property you’re buying. 

A home appraisal costs between $300 and $425, depending on who you use to carry out the service.

Work Out the Cost of Your Move

As you can see, there are a lot of unexpected costs that come with moving home. In fact, when you add them all up, you’ll spend an additional $5000+ on moving and closing fees. 

Don’t let that stress you though – knowing about all the fees in advance means you can save up a little extra and be prepared when you’re ready to make an offer. 

If you want to work out exactly how much it will cost to move to your new home, here’s an easy moving cost guide to help you figure it out. 

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You could search for interstate moving companies if you wanted, but we can help with that as well. We can come and pick up your belongings and pack them on the truck, or we can even pack your boxes for the move if you just do not have the time. That way, you can get to your new location and be ready to start the next chapter of your life when we get there with everything you hold dear. Is the Move for Business or Pleasure? While no move is fun, per se, having someone that can help with both a residential move and a commercial move allows you to have one company that you know that can help with all your needs, no matter how they may change. Unlike some residential moving companies in Longmont that only help with houses, here at Free Range Movers, we can help with any type of move. We are a top-notch Longmont commercial moving company, plus we are available precisely when you need us. We understand that time is money and you cannot have your business out of commission any longer than necessary. We can come in at your convenience and make sure the move is done right the first time. Now, if you have been looking up relocation moving companies in Longmont because you plan to move to a tropical paradise for retirement, the move may be a bit more fun than most. In these cases, you can hire our packers and movers so we can help you stay on easy street. We come in, you point to what you need packed, then we take care of the rest. You do not need to worry about it until you get to your destination and get to unpack in paradise. Plus, if you do not feel like unpacking at your destination, we can help with that too. The Best Home Moving Companies in Longmont Do More Than Whole-House Moves Perhaps instead of turning to a local moving company, what you need is a furniture moving service? The experienced professionals here at Free Range Movers can help no matter how big or small your project is. While there are many furniture moving companies in Longmont, only some will come out to help with furniture and still be there if you need to move to the other side of the world. No matter what type of moving service you need, we can help. We are one of the most professional moving companies in Longmont because of how dedicated we are to our clients. Whatever you need, we can help you with. Only the Best Moving Company in Longmont Will Help With All of Your Needs It is important to find the best moving company to match your specific needs as much as possible. That is what our constant goal here at Free Range Movers is. We want to be able to be there no matter what type of moving needs you may have. It is our job to make your move as stress-free and peaceful as possible, and we take our job very seriously. You can call on us when you need someone to move heavy furniture around, when you need professional movers and packers, or if you need help downsizing from a house to an apartment. Part of what goes into being one of the best long-distance moving companies is being able to help no matter what our customers need, so we make sure to provide any services we can to help with the process. That includes: Packing up, moving, and unpacking your items for you. Offering moving supplies if you need them. Always treating you and everything you own with respect. Staging a home that you want to sell. Good moving companies in Longmont are always available, but when you move, you want the best moving company in town. You want Free Range Movers. We will ask the right questions to ensure we send our local or long-distance movers to help with your move. We will do everything we can to treat each item like it was our grandmother’s best China, and we will always be here to help with anything we can along the way. Moving is a challenge, but it does not need to be a hassle.