Ongoing
What are ongoing costs?
Costs that are present after buying a house.
What are upfront costs?
Costs that you pay right when your offer for a home has been accepted.
What is a con of renting a house?
Limited by rental agreements
What is a buyer's agent?
A real estate agent that helps someone buy a house.
What are maintenance costs?
Cost for the upkeep of a house in order to maintain it.
What are moving costs?
Cost of moving to a new home.
What is a con of owning a house?
It is a challenge to relocate.
What is a listing agent?
A real estate agent that helps someone sell a house.
What is property tax?
A tax based on house cost that is paid every two years.
What are closing costs?
Payments that the buyer provides to the lender for the loan. They pay for your appraisal, insurance, origination fee, lender fee, and inspections.
What is a pro of renting a house?
It’s the landlord's responsibility for repair and maintenance.
What is a dual agent?
A real estate agent that helps both buy and sell the same real estate.
What are insurance costs?
Payment towards protection of your home and personal items from damages. This is in cases of natural disasters, injuries, and even lawsuits including your property.
What is a down payment?
A payment that is a percentage of the total price of a house paid upfront while the rest is paid under borrowed money until it is all paid over a period of time
What is a pro of owning a house?
Stability
What are realtors?
A real estate agent that is a member of NOR.
What are HOA fees?
Payments made that go towards community services and amenities in your neighborhood.
What is/are appraisal insurance, origination fee, lender fee, and inspections?
What closing costs pay for.
What is equity?
The amount of home a person actually owns and it acts as a saving fund. You cannot access it until you sell the house.
What is a commercial real estate agent?
A real estate agent that handles real estate transactions for businesses or companies