Out of Pocket Costs to Purchase a Home

Although most of the costs to purchase a home are due at closing, there are a couple of up front costs that you, as the buyer, will need to have money for. These include your earnest money and the cost for inspections.

Earnest Money

Earnest money is provided to your real estate agent at the time you make an offer on a home to show good faith that you "earnestly" desire to purchase the property. Although the amount of the earnest money is negotiable, for planning purposes you can assume it will be around 1% of the purchase price. If the offer is accepted by the seller, the earnest money will be deposited into a trust account.

If the offer is rejected or rescinded because of contingencies listed in your offer, the earnest money is returned. For example, if the offer is contingent on a home inspection and the inspection shows multiple problems that would costly to repair, you can withdraw the offer and receive your earnest money back. However, if you back out for any reason other than those stipulated in the offer as contingencies, you will likely forfeit the earnest money to the seller. If the sale closes, the earnest money is counted towards your purchase price.

Inspection Costs

As with any large financial decision, you will want to make sure your investment is sound before making a final purchase decision. In the home buying world, one of the best ways to do this is to perform necessary inspections. The prices of a home inspection will vary, but for budgeting purpose, you can plan to spend between $200 and $500. Payment for an inspection is usually made by the buyer and is due to the inspector upon service, NOT closing. In addition to a home inspection, there are other inspections you may choose to invest in as well. These include but are not limited to a mold inspection, well water test, septic pumping and inspection, and a radon test.

 

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Boise Area Homes for Sale

$364,000
3 Beds ⋅ 3 Baths ⋅ 1,285 SqFt. ⋅ 0.04 Acres ⋅ 99000648 MLS
Discover the charm of the Peachtree community, a serene neighborhood featuring groomed grounds and walking paths, a quiet pond, and a community pool. Situated in a prime location, you are just minutes from downtown Boise and the foothill trails. This home lives large with 3 bedrooms and 2.5 bathrooms. Complete with new stainless steel refrigerator, stove and dishwasher, washer and dryer. Breakfast bar, Cozy gas fireplace. Enjoy low-maintenance living, as the HOA dues cover all lawn care, snow removal, exterior maintenance, and the community pool. The HOA replaced the roof in (2018) the HVAC system was replaced in (2015).

5852 N Cobbler Lane, Boise
$1,640,000
4 Beds ⋅ 4 Baths ⋅ 3,227 SqFt. ⋅ 0.24 Acres ⋅ 99000647 MLS
Some homes simply offer a place to live. This one offers a legacy. Set along Boise’s historic Warm Springs Avenue, this distinguished 1937 brick residence is a rare convergence of timeless architecture, modern comfort and remarkable versatility. The gracious main home offers 4 bedrooms, 3.5 baths, a finished basement, hardwood floors, a gas fireplace and beautifully composed spaces for both quiet mornings and memorable gatherings. Beyond the home, a fully fenced corner lot, mature gardens and geothermal water create a setting rich with character. A separate detached dwelling provides exceptional flexibility for future rental income, multigenerational living, private guest accommodations or a secluded studio. The ADU is currently occupied by a tenant who will vacate September 25. Complete with a two-car attached garage, no HOA and one of Boise’s most treasured historic addresses, this is more than a residence—it is an opportunity to own two distinct living spaces and an enduring piece of Boise history.

1120 E Warm Springs Ave, Boise
$549,900
3 Beds ⋅ 3 Baths ⋅ 1,999 SqFt. ⋅ 0.16 Acres ⋅ 99000642 MLS
Welcome to this beautifully maintained home in one of Northwest Boise's most desirable neighborhoods, where pride of ownership is evident throughout. Lovingly cared for and in exceptional condition, this custom home offers quality craftsmanship, thoughtful design, and modern finishes in a location that's hard to beat. Enjoy the freedom of no HOA while being just minutes from shopping, the Greenbelt, parks, and convenient access to Highway 55. The highly sought-after floor plan features all bedrooms upstairs, creating a functional separation between living and private spaces.The spacious kitchen is the heart of the home, showcasing a large center island, LG appliances, an oversized pantry, and abundant counter space perfect for entertaining or everyday living. Every bedroom has generous storage throughout. Additional highlights include dual-zone smart thermostats for year-round comfort, a fully insulated garage with a steel-backed garage door and ultra-quiet opener, automatic sprinklers, and a low-maintenance yard.

10386 W Shields Ave, Boise
$799,000
3 Beds ⋅ 3 Baths ⋅ 1,753 SqFt. ⋅ 0.07 Acres ⋅ 99000626 MLS
Newer construction in the heart of Boise's North End, just steps from Camel's Back Park, Highlands Hollow trail, and Hyde Park. A lush landscape welcomes you into an open-concept main floor built for easy living, with a brick fireplace, ample storage, shiplap accents, a white oak bar, and a built-in dining bench that make the space feel warm from day one. The kitchen delivers with crisp gray cabinetry, subway tile backsplash, quartz counters, and stainless appliances, all wrapped around a warm breakfast nook and walk in pantry. Upstairs, the primary suite offers its own private sitting area with room to unwind and tree top sunset views, while the secondary bedroom is flexible enough for a combined guest room home office. Just minutes from downtown Boise, this home blends walkable North End living with modern finishes throughout. The backyard has maintenance free xeriscape and raised garden beds with espalier fruit trees. Walk to coffee, Certified Bakery, and enjoy this low-maintenance haven.

2320 N 16th St, Boise
$674,900
4 Beds ⋅ 3 Baths ⋅ 2,102 SqFt. ⋅ 0.17 Acres ⋅ 99000621 MLS
Some homes simply feel special—and this beautifully appointed Hidden Springs residence captures the essence of relaxed, refined living. From the gracious wrap-around front porch to the light-filled interiors, every space feels welcoming, peaceful, and effortlessly livable. Gorgeous hardwood floors and sophisticated neutral hues create a timeless backdrop throughout the fabulous floorplan, where the great room provides a natural gathering place for both everyday moments and entertaining. The chef’s kitchen is designed to inspire, featuring a gas range and an inviting connection to the main living spaces. Retreat to the main-floor primary suite, complete with a spacious walk-in closet, while three additional bedrooms and 2½ baths offer exceptional flexibility. Outside, the large covered patio extends the living space and invites you to linger and enjoy the serene surroundings. A three-car tandem garage provides abundant storage for vehicles, recreation gear, and more. Just steps from the community pool and open space, this home offers an extraordinary lifestyle within Hidden Springs, where 900+ acres of preserved open space, abundant wildlife, trails, pools, farm, orchard, restaurant, coffee shop, library, schools, concerts, and community events create a true sense of place. And downtown Boise is just 15 minutes away. Open House Saturday, Sept. 12, 11 AM–12 PM & Sunday, Sept. 13, 12–1

4780 W Farm View Dr., Boise
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Information courtesy of Intermountain Multiple Listing Service. Information provided by IMLS is deemed reliable but not guaranteed. IDX information is provided exclusively for consumers' personal, non‐commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IMLS does not assume any liability for missing or inaccurate data. All listings provided by IMLS are marked with the official IMLS IDX icon.