re: First time homebuyer

quote:

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Yeah but you still needed an attorney and a title company involved, in addition to paying the closing (if you did that) - and paying off property taxes for the year, etc. All the little things that you have to do when selling a home.

It's not like you sit down at a table with a piece of looseleaf paper and handwrite a bill of sale to sell your house

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We did just sit at the table to write the offer.

But yes, for all the paperwork, we went through closing like anyone else does and there are fees for title, attorney, taxes, etc. I've always considered that all to be "closing costs".

Again, that has no bearing on whether it's good to save 20% and buy within your means. You could by a 200k house that is already fixed up. 3 years later, it's not going to sell for 15k more if there is no real room for low hanging improvements (and the market is stagnant). So you still have to pay all those fees, but now you don't have that money.