It’s certainly no secret that buying a home can be expensive. Along with a down payment, home buyers also need to pony up for moving expenses, closing costs, and anything else that coincides with purchasing a new place to live in today’s increasingly complex housing landscape.
But if you’re wondering just how much it cost to buy a home right now, a recent study from Zillow estimated that Dallas home buyers specifically will need around $42,057 upfront in order to secure a new place, which is just over the nationwide average $40,080.
The estimate considers a variety of factors like average down payment costs, closing costs, and moving expenses, and if you think DFW’s cost is high, coastal markets like San Francisco and Seattle require more than $152,000 and $80,000 respectively.
Zillow’s estimate is also based on DFW’s median home value of $231,000, which is also slightly less than what most real estate agents put the median home price at right now. In addition, it also assumes buyers are putting down 15 percent, which not all buyers will need in order to be pre-approved.