As a first-time home buyer, it can be pretty overwhelming trying to understand what costs you’ll encounter as part of the home buying process, so I’ll be breaking them down for you in this post.
Ok, here we go:

Include a wide range of charges for services related to applying for a mortgage; some are related to the property and others are related to the paperwork involved. Expect to pay anywhere from 2 to 5 percent of the amount you’re borrowing.

A percentage of your home’s purchase price that you pay upfront when you close your home loan. The average down payment in the U.S. is about 6%, although it’s possible to buy a home with as little as 3%. Keep in mind that the higher your down payment, the less your monthly mortgage payment will be.

A sum of money you put down to show that you’re serious about buying a home. The amount you should offer depends on the particular real estate market your desired property is in.

The national average is 1.3%, but Chicago is slightly less at 1.22 percent.

The average cost of home insurance in Chicago is $1,728 per year for $250,000 in dwelling coverage.

Depending on the appliances you need and choose, you can spend anywhere from roughly $40 to $10,000.

The average cost is $16,000, but this depends on the size of your house and the pieces you choose.

You should generally budget for 1% of the home’s purchase price.
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