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What Does Buying a House Cost?

Buying a house is a huge investment, so when you go into the homebuying process, it's important to know just how much you can expect to pay. If you aren't sure about the costs that are involved in a real estate transaction, we've put together a quick guide for you below. In addition to your new home's purchase price, you should expect the following costs of buying a home:

Earnest money. When a conctract is written, the buyer presents earnest money to show their serious intent to buy the home. There is no set amount for earnest money, and it sometimes depends on the purchase price of the home, but a typical amount tends to be somewhere around $1,000.

Down payment. The down payment depends on the type of loan you secure, but you always have the option to make a larger down payment than is required. 

Home inspection. This is a very important step in buying a house, as it may reveal issues that need to be resolved prior to closing. In fact, many contracts are contingent upon a satisfactory home inspection. A home inspection typically runs from $300 to $500. Make sure to get a few quotes before you decide on who to hire.

Appraisal. The cost of an appraisal may be wrapped up in the closing costs. Your lender will choose who to order the appraisal from, but you pay the fee, which should be around $300 or $400.

Closing costs. Expect to pay anywhere from 2% to 7% of the purchase price in closing costs. Every transaction is different, and closing costs are definitely no exception to that rule. You might have to pay 100% of your closing costs, or the seller might contribute as well. Charges included in the closing costs vary, but a few examples are:

  • Credit report
  • Loan origination fee
  • Attorney's fees
  • Discount points
  • Appraisal fee
  • Title insurance
  • Title search
  • Escrow deposit
  • Recording fee
  • Underwriting fee
  • Taxes and insurance

If you have questions or apprehension about exactly what you need to be prepared to bring to the table, talk to your lender. They're always ready with a wealth of knowledge and reassurance.

Happy buying!

 

 

 

Useful tip for Jellyfish season

Hello internet! 

Bobby here from Johnson & Wilson Real Estate Co. This is not real esate related, but us supporting the lowcountry, I want to share some knoweldege for all the beach goers out there. Being the surfing beach bum I am, I have a few "beach survival" tips up my sleeve. I have been stung by jellyfish countless times and it is never fun or convenient. Now everyone knows that vinegar, alchohol, or sometimes even urine can relieve a jellyfish sting...BUT DID YOU KNOW... Using simple yellow mustard is really the best option?

Here is why:

Generic yellow mustard has a lot of vinegar but has a thicker consistancy to where it wont run off the surface, for the most part it should stay put, allowing it to be more effiective. If you want to go the extra mile; once the mustard has been sitting for a while and the sting area has been cleared, you may see little dark specs, these are the jellfish stingers. You can get a razor (make sure you have soaped up) and shave them off, this should clear most of them, the rest should work themseleves out naturally. This is why I am the weirdo that always has a jar of yellow mustard in my glove box. 

 

Obviously this is for minor and erritating stings. If you have a major painful encounter, please see a doctor. 

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Friday Five // May 2, 2014

It's time once again for the Friday Five! This week, we've got five fun events for our readers to check out. Among this week's offerings are an arts festival, the celebration of a certain film franchise, and

The 32nd Annual North Charleston Arts Festival takes place at the North Charleston Performing Arts Center from May 2-10. The main event happens this weekend, May 3rd and 4th. Enjoy 40 performances on 4 themed stages, roving entertainers, food, and much more.

Craving some soul food? Check out the Post & Courier's gallery of the best soul food restaurants in Charleston.

Take the family out for a fun evening at Movies in Marion Square. This week's selection is everybody's current favorite: Frozen! Bring lawn chairs, blankets, and cash for food and drinks. The movie is free!

May the fourth be with you! On Saturday night, The Sparrow in Park Circle will host the 4th annual Star Wars Day Eve party. For a cover charge of $5, adults ages 21 and up can celebrate in style with live music from "nerdy '80s cover band" the Spazmatics, a costume contest, a photo booth, and exhibitions from local artists. The fun begins at 8pm.

Head down to Brittlebank Park on Saturday for the Charleston Dragon Boat Festival, which includes a fierce dragon boat race, a huge party, and celebration of cancer survivors, all benefitting the cancer survivor programs of Dragon Boat Charleston.

However you celebrate the weekend, make it a safe and happy one! 

 

18 Surprising Housekeeping Tips and Tricks

Cleaning can be such a drag. If you're anything like us, you're always looking for housekeeping shortcuts. Thanks to all the allergens in the air lately, spring cleaning has been on our minds, so we went searching for a list of the best, most surprising housekeeping tips out there. Take a look at our compilation below.

 -Deodorize garbage disposals with an orange peel. Just stick the orange  peel in and let the disposal do its thing!

 -To clean and deodorize a freezer, pour a little pure vanilla extract on a  cotton pad and wipe it down.

 -While we're on the subject, a great concoction for cleaning and  deodorizing the fridge is a solution of 50% vinegar and 50% water.

 -Need to vacuum small spaces like underneath the sofa or fridge? Stick an  empty paper towel tube on the end of your vacuum cleaner for a collapsible  extension.

 -Use a coffee filter to dust television and computer screens.

-Dab olive oil on a terrycloth towel to clean stainless steel appliances.

-To unclog a drain, use a mixture of 1/2 cup baking soda and 1/2 cup vinegar. Pour it down the drain, cover with a wet cloth, and wait five minutes. Then flush with steaming water.

-Grease spot on light-colored upholstery? Cover it with cornmeal and let sit 15-30 minutes. Vacuum to remove.

-Use a dryer sheet dampened with a few drops of water to clean soap scum from a shower door.

-In a sticky situation with labels that won't budge? Blast them with a hair dryer to melt the adhesive, and they'll come right off!

-A seam ripper is the perfect tool to untangle those pesky threads and strings from the roller on your vacuum cleaner.

-Use a walnut to fill shallow scratches on wood. Just rub it over the scratch, and voila!

-Could your dishwasher use a washing itself? Put some lemonade Kool-Aid (the only flavor that works for this) in the soap tray and run it through a cycle. Lemony fresh!

-To keep dust from flying everywhere when you clean ceiling fans, use a pillow case. Just fit the case over the blade and pull. The dust stays in the case instead of in your eye.

-If your coffee grinder needs a good cleaning, fill it with dried rice and mill it like you would with coffee beans. The rice cleans the residual grounds and oil. 

-Clean that coffee maker to match your newly gleaming grinder. Just run a mixture of water and vinegar through as though you were brewing coffee. It might be smelly, but it's worth it!

-Use an electric toothbrush to make scrubbing grout easier.

-Get rid of odors on your plastic or light wood cutting board by rubbing it with half a lemon.

We can't wait to try out our new slew of housekeeping tips! Do you have any other tried-and-true tricks that work for you? Let us know in the comments below!

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A friend of ours who recently bought a house enthusiastically referred us to Johnson & Wilson. Our friend's recommendation was top notch - Johnson & Wilson. is AWESOME! - Brian
 
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