We wish! Closing costs can add up and be quite a stumbling point if you don’t plan accordingly when making the decision to buy real estate. Buyers are typically responsible for paying their own closing costs (unless negotiated otherwise) which can be anywhere from 2.5-3% of the purchase price. Here’s a quick overview of what closing costs are made up of: Setting Up Escrow Account (property taxes & homeowners insurance), the first year Premium on your Homeowners Insurance, Pre-paid Interest (calculated based on the day of the month that you close), Origination Fee, Appraisal Fee, Settlement Fee, Owners and Lenders Title Insurance, Transfer Taxes & Home Inspection (this is paid out of pocket before settlement). Some other possible costs can include HOA Capital Contribution Fees and a Survey Fee. Talk to your Realtor about what you need negotiated in the contract, specifically if you need help with closing costs. There are also Grant programs available and sometimes promotions through lenders if you choose certain loan types that help with closing costs. Don’t be afraid to ask, you might be pleasantly surprised with the answers you get!