How much a $300,000 house actually costs will surprise you

ABC News Correspondent Deirdre Bolton breaks down the hidden costs at closing when buying a house.
2:51 | 07/07/20

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Transcript for How much a $300,000 house actually costs will surprise you
The median home rate the United States is 230000. Dollars. For purposes of this video or rounding up slightly to 300000. Dollars. And we're gonna take you through some of the hidden cops that you're gonna have to face act closing. First let's with the closing costs. If you should between Q&A half percent to 5% of your home's value that's going to be between seven and a half and 151000 dollars. You may think asks a lot of money and it is there are also a lot of elements that go into that so appraisal fees. Home inspection sometimes included sometimes I'm either way you have to pay for it. Credit reports lawyers' fees and usually when you close on your song you pay the first year of your homeowner's insurance have to have back. He's a fire line. Or a burglary. The second process. Moving fees thing. Unless you have family and friends are willing to work for beer and pizza and you don't have a lot of year you're probably gonna have to use a moving company. Usually it's between 35000. Dollars. Obviously the farther away you go and the more gear and furniture you have the higher the quote for the motors is going to be. Next there's. Home inspection. It's about 500 dollars. The good. You have to know the condition of the home that your buying you have to know about the electrical systems is bombings the foundation is it. Crack is their day happiness are there has is their mauled. Eric hunt of questions you need to know the answers. Fort cost the title insurance. Title insurance can be anywhere between 500 dollars and 35 dollars. This protects it let's say you close on the house. The premium fulfill of the seller comes out of the woodwork and says I inherited this house. If you have title insurance you are protected. Finally the last hidden cost. A slush fund a savings account for your house ideally somewhere around 101000 dollars. Most experts will tell you maybe a year in the furnace breaks or some other big project that you really needed chunk of change and act. It's so much easier if you already put that aside so much less stress free. So at all of this stop and you're looking at upwards of 21000 dollars. Quit this depends on trees live and how much you're moving costs will be. To think about this when you're buying at 300000 dollar home beep repair act closing to pay about 21000. Dollars on top. Of all apps.

This transcript has been automatically generated and may not be 100% accurate.

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