One of the most common questions I hear from potential buyers in Cobb and Paulding counties is: "How much money do I really need to save before I can buy a house?"
There is a longstanding myth that you need 20% down to purchase a home. While that is great for avoiding private mortgage insurance (PMI), it is absolutely not a requirement. However, the down payment isn't the only cost you need to prepare for.
The Three Main "Cash to Close" Categories
To get the keys to your new home in Acworth or Woodstock, you need to budget for three specific buckets:
- The Down Payment: Depending on your loan type (FHA, Conventional, VA, or USDA), this can range from 0% to 3.5% or more. On a $400,000 home, a 3.5% down payment is $14,000.
- Closing Costs: These are fees paid to the lender, attorney, and county. In Georgia, you should estimate between 2% and 4% of the purchase price. This covers title insurance, taxes, and loan origination fees.
- Reserves & Moving Expenses: Don't drain your bank account to zero! You need a safety net for movers, immediate repairs, and utility deposits.
How Maria Making Moves Saves You Money
This is where having an expert negotiator like Maria VanVurst becomes your biggest financial asset. The list price is just the starting point, and "saving money" isn't just about what you have in the bank—it is about what you keep in the bank at the closing table.
I specialize in the North Metro Atlanta market, and I know how to structure offers that benefit you.
1. Negotiating Closing Costs
In a balanced or buyer-friendly market, I fight to get the seller to pay a portion of your closing costs. This can save you thousands of dollars up front, effectively lowering the amount of cash you need to bring to the table.
2. Local Lender Connections
I work with trusted local lenders in Acworth and Marietta who offer competitive rates and down-payment assistance programs that big-box national banks often miss.
Check out our First Time Buyer Guide for more financing tips
3. Avoiding the "Money Pit"
Saving money isn't just about the purchase; it's about avoiding a bad investment. I help you identify red flags during tours so you don't buy a home that will drain your savings in repairs later.
Ready to Run the Numbers?
You might be closer to buying than you think. Let's sit down, review your goals, and build a strategy that fits your budget.
Contact Maria VanVurst today to start your journey
