The Ultimate Guide to Home Buyer Costs

What are the costs of buying a home?

Whether you’re a first time buyer or an experienced home owner, this question has surely crossed your mind before.

This is a great question to ask because buying a home is likely going to be one of your most expensive purchases you make during your life.  Unless you are a realtor, you probably don’t know in detail the full range of costs that are associated with the home purchase.

It’s important to understand the home buying costs associated with purchasing your dream home so that you can have your financial house in order and be ready to meet these expenses. Unexpected surprises that cost you money are never fun so I’ll do my best to have you fully prepared!

This guide will explain in detail each of the fees and costs you can expect and I’ve got a checklist for you at the end you can download for reference as a cheat sheet. I want to forewarn you though that this is only a list of possible fees you may encounter when buying your home. You may or may not have all of these fees so don’t let the extensive list freak you out.

Standard fees almost everyone has are known as closing costs, while other costs can vary depending on how you are making the purchase. For example, if you are buying the home with a loan from a bank you’ll have additional fees due to the use of bank financing compared to if you were to pay all cash for the house.

Make sense? Alright cool, let’s get into the Indiana home buying costs guide I’ve written for you today.

Common Indiana Home Buying Fees

Prior to closing there are several tasks that will need handled on the buyer’s side and incur costs.

Common Indiana Closing Costs When Buying a Home

Common Fees Associated with Financing

When you borrow money to pay for an Indiana home, you will encounter additional fees associated with taking out a loan.


Optional Home Purchase Costs

There are a few other fees you might need to save for, depending on the home you are purchasing. These are the costs of buying a Indiana home that are essentially optional but certainly recommended.

Concluding Thoughts on Home Buying Costs

As you can see there are a number of home buying fees in Indiana. When I get asked the question by friends, clients, and prospective home buyers, it’s not a straight forward answer as you can see. There are many common expenses that everyone will face related to closing and lenders and there are many optional or variable expenses that will differ for each person.

After reading this guide you now have a better grasp of the costs associated with buying a home and can make educated financial decisions. It’s recommended you purchase most of the inspections listed above as well as the different insurances because the downside if something goes wrong with the purchase can be way more costly than the small fee for the inspection/insurance.

Before you go, here is an additional resource to check out via HUD.GOV that shares all of the considerations for buying a home. Here is a calculator from Michael Bluejay on estimating closing costs.

When you go to sell your current home you’ll have to consider the home selling costs as well. I’ve compiled another detailed guide for you here to check out: The Ultimate Guide to Indiana Home Selling Costs

Speak to an Indiana Realtor Today

kevin foy real estate agent elkhartThe above Real Estate information on Indiana home selling costs was provided by Kevin Foy, a top producing realtor in Northern Indiana serving the Elkhart, Granger, Mishawaka, South Bend, and Goshen areas. Kevin can be reached via email at or by phone at 574-536-9218. Kevin has helped people move in and out of many Indiana homes for the last 35+ Years.

Thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!

I service Real Estate sales in the following Northern IN towns: Elkhart, Granger, Mishawaka, South Bend, Goshen, Bristol. Middlebury, and Southern Michigan cities that are within 20 miles of Elkhart.