Homeowners face a long list of ongoing expenses, including insurance, taxes, and upkeep. While costs may vary depending on the area and other factors, they typically run from one to three percent of the purchase price. Buyers should estimate these expenses and make sure they have enough money to pay them. Some of the most common expenses include loan fees,valuation fees, deed recording fees, surveys, solicitor fees and credit report charges.
Read MoreWhat Expenses to Expect When Buying a Property
