You probably already know that buying a home is not cheap. You save for a down payment, check how much a house costs, and then start house hunting. But the real cost of buying a home is more than the listing price.
Many buyers do not expect the extra fees that come with it. If you are planning to buy a home in Nevada, it helps to know what those hidden costs are. That way, you can plan better and avoid surprises later.
House Survey Costs
Before you buy, you need to make sure the house is safe. That is where a house survey comes in. A survey checks the condition of the property. It looks for problems like cracks, water damage, or roof issues.
In Nevada, the cost of a house survey depends on the size and type of home. Basic surveys may start around $300. More detailed inspections can go above $600. If issues are found, you might also pay for extra reports or repair estimates. So include this in your budget. It helps protect you from buying a home with hidden damage.
Mortgage Arrangement Fees
If you plan to borrow money from a bank, there may be a fee to set up the mortgage. This is called a mortgage arrangement fee. It covers the work the lender does to check your application and prepare the loan.
Some lenders charge flat fees, while others take a percentage of the loan. This can cost anywhere from $500 to over $2,000. You can pay it upfront or add it to your loan. But if you add it, you pay more interest over time. So, check the full cost of your mortgage before signing.
Solicitor Fees Per Hour
You will need a lawyer or solicitor to handle the legal parts of the sale. They check contracts, handle money transfers, and ensure the home is legally yours.
Some solicitors charge a fixed fee. Others charge by the hour. Rates in Nevada can vary, but the average hourly fee can be between $150 $300. The total cost can go higher if there are delays or issues with the paperwork. Ask for a quote before hiring a solicitor. That way, you know what to expect.
Stamp Duty Fees and Other Taxes
While Nevada does not charge a “stamp duty” like in some other places, there are still taxes and fees to watch for. For example, you may pay a real property transfer tax. This is based on the price of the home.
You might also pay county recording fees or other small costs tied to changing the property title. These can add hundreds to your total cost. Your real estate agent or solicitor can explain which taxes apply in your area.
Moving, Setup, and Ongoing Costs
Even after the home is yours, more costs follow. You might need to pay movers, install internet, or set up water and power. There may also be repair costs before you move in.
If you live in a neighborhood with a homeowners association, you may have monthly or yearly fees. These can range from $50 to several hundred dollars. So plan. These small fees can add up fast.
Conclusion
Buying a home is one of the most significant steps you will take. The more you know about the actual cost, the smoother the process will be. At Northwest Realty Group, we guide buyers through every step so that you can feel ready and informed.
Looking to buy or sell a home in Nevada? Let Northwest Realty Group guide you through the process with care, experience, and local knowledge. Contact Northwest Realty Group today and take the next step with confidence.
