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How to Determine How Much Money You Will Need Upfront When Buying a Home in Athens

Buying a home comes with some additional costs that homebuyers may not know about or simply overlook amid the flurry of activity. Let’s get you focused on the upcoming important financial pitfalls by going over how to determine how much money you will need upfront when buying a home in Athens.


When buying a home, after your offer has been accepted by the seller, it’s off to hiring a licensed home inspector to go over every nut and bolt of the property with you. 

Inspections are important because they give you an opportunity for a professional to analyze the condition of the home from floor to ceiling while also going over how the different systems in the home function appropriately. Not all water heaters and furnaces are identical, and knowing what you’re dealing with when making one of the largest purchases of your life is incredibly important. 

Home inspectors will charge different rates and you should inquire about them before giving the OK. Finally, your lender may require different types of inspections to be done before moving forward with approving your home loan.

Closing Costs

Depending on how negotiations went, you may find yourself paying none, some, or all of the closing costs when buying a home in Athens. 

In a seller’s market, there’s always the possibility that you will end up in a bidding war since inventory remains low and demand is high. If that’s the case, offering to pay part of the seller’s closing costs could make a huge difference in winning the home over the other buyers. 

Discuss the cost breakdown of your closing costs with your lender before making this part of your offer in order to avoid a nasty surprise, and you’ll be better off throughout the entire closing process.

Down Payment

Out of all of the major expenses involved in buying a home in Athens, your down payment is likely to be the biggest one under normal circumstances. The reason for this is that you should always try to put down 20% of the final purchase price of your new home at closing in order to avoid paying an additional monthly fee to Private Mortgage Insurance, or PMI. 

For the buyer, PMI is a simple thing to understand but goes overlooked by a lot of buyers who feel they got away with putting less down on their home to save money in the short term. PMI is a policy taken out by your lender to cover them in the event you default on your mortgage payments, and the buyer is responsible for the premiums on this insurance policy. 

If you don’t put that 20% down at closing, you will be paying the premiums for that PMI policy every single month until you cross the equity threshold. That means putting more money down at the time of closing could save you being nickel and dimed over the next four or five years.


Even after buying a home, you still have to get all of your possessions there in one piece, and moving can be quite costly. 

For most of us, we don’t have access to the vehicles and equipment necessary to do one big slog from the old residence to the new, so contacting local moving companies or looking into renting a moving truck for yourself is absolutely necessary to understand how much the move itself will cost you. 

If you’re in need of moving blankets or a dolly for heavier objects, ask about the added costs of renting these individual pieces of equipment. Keep in mind that you will be paying for the fuel used during the move as well, and that can add up quickly if you’re needing to travel a long distance or make a bunch of trips back and forth.

Professional Help When Buying a Home in Athens

If you’re thinking of buying a home in Athens and want professional guidance through the process, contact us today at 706-426-1082!

Georgui Kassaev

Georgui Kassaev was invited to this country in 1996 during the Atlanta Olympic games. The first place he came to call his home after leaving Russia and performing all over Mexico, was Athens. He became a professional mixed martial arts fighter, then coach, and eventually obtained two black belts in taekwondo and Brazilian jiu-jitsu. He formed a specialty carpentry and construction business which sparked his passion for real estate. He then rediscovered his first passion performing. After all, he has performed in the circus since he was eleven years old in front of thousands of people and then again when he was an adult as a professional fighter. In 2018 he landed his first 3 television roles. While acting, he continued developing his real estate skills, becoming a value-add investor in the Classic City and then getting his real estate license. He has now become a listing specialist in the Greater Athens Area, working with homeowners to protect their interests and get them the right price for their property! However, he never abandoned his construction roots and works with investor clients to help them buy properties based on their numbers with no aversion to making multiple offers. Georgui is fluent in three languages Russian, Spanish, and English. He is proficient in video production and social media marketing.

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