Whats In The Final Home Price ?

Question

Like Interest, House price, APR, Insurance FYI-This is a just built new home

Answer 1

Example on a $500,000.00 home in South Florida at 6.5% interest, 2% taxes, 1% insurance on a 30 year note: $1,473951.60
excluding upgrades, improvements and maintenance. So to all those who think their home is the best investment ever, here's a quote from an economics and finance professor at Yale University: “A home was never meant to be a speculative investment or a way to finance the rest of your expenses. It should primarily be, quite simply, the place you want to live.”

Answer 2

Don't pay any attention to dgenr8's comment. It is strictly out of line here and he was reported.

There is a laundry list of items that go into the final price of the home you are interested in. Not only what was mentioned by others but how credit worthy you are, how long on your job, etc. all goes into it. The listing price is not always what the house sells for either.

Answer 3

With a 30 year mortgage, you'll end up paying almost 3 times the original price. Then add 30 years of taxes, insurance and maintenance and you'll have your true final price.

Answer 4

Mortgage priciple, mortgage interest, primary mortgage interest (PMI) if not putting 20% down, title insurance, title searches, taxes, mortgage recording fees, your lawyer's fee, the fee for the office where you have your closing, points (if applicable) hidden bank fees, could be others depending on what state you are in. Good luck!

Answer 5

The Price is what it is. Other stuff would be Closing Costs, and APR is a figure used to figure your future costs.

Answer 6

Don't ever buy a house, that is the worst investment you will ever make, you will be in debt forever and you will never be able to sell it for what you paid.

Answer 7

That would be the end cost before the closing.