The Hidden Fees First-Time Homebuyers in Idaho Should Budget For

The Hidden Fees First-Time Homebuyers in Idaho Should Budget For

Buying your first home in Idaho? 🎉 Let's talk about something most new buyers overlook - first time homebuyer costs in Idaho that go beyond just the down payment. From appraisal fees to move-in costs, here's what to watch out for so your budget stays on track in places like Boise, Nampa, and Meridian.

Here are the hidden fees first-time buyers in places like Boise, Nampa, and Meridian should be ready for - so your budget doesn't get blindsided.

🧾 1. Home Inspection Fees

Before you buy it, inspect it! Most Idaho homes need a thorough inspection, which typically costs $350 - $600. It's optional - but not really.

🏡 2. Appraisal Fees

Your lender wants to know the home is worth what you’re paying. This usually runs between $500 - $750 in the Treasure Valley area. No appraisal = no loan.  Most lenders will charge upfront, but 1st Choice will typically pay for the appraisal and get reimbursed at closing.

🕵️ 3. Title Insurance

This protects you (and your lender) from ownership disputes. Expect to pay $500 - $1,200 depending on the home's value. It's a one-time fee, but a vital one.  This is a closing costs, and can be paid by the seller.

🗂️ 4. Loan Origination Fees

Some lenders (not us 😉) sneak in a 0.5% - 1% origination fee. Ask about this early - or just call a local pro like 1st Choice Mortgage and avoid the mystery fees.  Watch out for this, Credit Unions and Retail Lenders LOVE to over charge for this feel, but not US!!

🔌 5. Prepaid Utilities & HOA Dues

Buying into a subdivision? Some require you to prepay HOA dues. Also, some sellers want reimbursements for pre-paid utility bills.  Going to Kuna, watch out for the $100 trash set up fee.

🛑 6. Closing Costs

This includes escrow fees, recording, underwriting, courier fees, and more. Plan on 2% - 5% of the home's price, depending on the loan type.

🪜 7. Move-in Costs

From renting a U-Haul to buying window coverings, first-time buyers are often shocked by how fast the small stuff adds up. Budget for at least $1,000 extra.

🏁 Bottom Line: Budget Beyond the Down Payment

When budgeting for your Idaho dream home, don't forget these hidden costs. They're not deal-breakers - but they can throw a wrench in your closing plans if you're not ready.

Want help mapping out a realistic budget?
Let's chat - no surprise fees, just local expertise.