If you’re planning to buy a home this year, one expense you shouldn’t overlook is your closing costs.
Most buyers know they exist, but not everyone understands exactly what they cover—or how much they can vary depending on where you’re purchasing. Let’s break it down.
What Are Closing Costs?
Closing costs are the additional fees and payments due at the end of your home purchase. Every buyer pays them, and according to Freddie Mac, they usually include items such as homeowner’s insurance, title insurance, and fees for:
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Loan application
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Credit report
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Loan origination
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Home appraisal
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Home inspection
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Property survey
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Attorney services
Why Closing Costs Differ
When you search online, you’ll typically see that closing costs range between 2% to 5% of a home’s purchase price nationwide. While this is a good starting point for budgeting, it doesn’t show the full picture.
Your final closing costs depend on:
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Local taxes and fees (like transfer taxes and recording fees)
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The cost of title and attorney services in your area
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State laws and regulations
That’s why closing costs in Washington can look different compared to other states. And even within our region—whether you’re buying in Tacoma, Puyallup, Auburn, Sumner, SeaTac, Des Moines, Burien, Normandy Park, Lake Tapps, or Bonney Lake—costs may shift based on the specifics of your transaction and location.
Why It Matters for Buyers
As the data shows, in some states typical closing costs may be around $1,000–$3,000, while in others they can climb as high as $10,000–$15,000. That’s a major factor in your budget, especially if you’re buying your first home.
The best way to get an accurate estimate is to connect with a trusted local agent and lender. They’ll walk you through numbers based on your loan type, price range, and city so you can plan ahead with confidence.
Tips to Help Reduce Closing Costs
While closing costs are unavoidable, there are a few strategies that may help you save:
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Negotiate with the seller for concessions such as credits toward closing costs.
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Shop around for homeowner’s insurance to compare rates and coverage.
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Ask about assistance programs—many are available by state, profession, or even neighborhood.
The Bottom Line
Closing costs are a necessary part of buying a home, but knowing what to expect—and how to prepare—can make the process smoother. If you’re considering buying in Tacoma, Puyallup, Auburn, Sumner, SeaTac, Des Moines, Burien, Normandy Park, Lake Tapps, or Bonney Lake, working with a professional is key.
To learn more about buying in these areas and to start your journey with confidence, visit Your Real Estate Story for trusted guidance.
