There are a few things to consider, including cost, individual needs, and what will add value down the road. Also important: your emotional attachment to the existing home. As designer and builder Philip S. Wenz, the author of Adding to a House: Planning, Design & Construction, notes that an addition is much cheaper than building…
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What are closing costs?
Closing, or settlement, costs are expenses over and above the price of the property. Both the buyer and seller incur some of these expenses when transferring ownership of a property. Who actually pays, however, often depends on local custom and what the buyer or seller negotiates. Closing costs normally include title insurance, loan points, escrow…
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Is it possible to save on closing costs?
Certainly, once you get past the sticker shock. Closing costs are expensive. They can average between 3 to 5 percent of the total home purchase price. But here are a few ways to save: Haggle with the seller. He may pay all or part of the closing costs based upon type of mortgage buyer selects.…
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