Monday, June 15, 2026 / by Lee Stillwell
How Much Does It Really Cost to Buy a Home in Washington DC Beyond the Purchase Price?
Buying a home in Washington, DC is an exciting step, but many buyers focus only on the home's purchase price and overlook the additional costs involved. Understanding these expenses before you start your home search can help you budget more effectively and avoid surprises at closing.
Whether you're a first-time homebuyer or a seasoned homeowner, here's a breakdown of the most common fees you should expect when buying a home in the DC area.
Earnest Money Deposit
When you submit an offer on a home, you'll typically include an earnest money deposit. This deposit shows the seller that you're serious about purchasing the property. In many Washington, DC real estate transactions, the earnest money deposit ranges from 1% to 5% of the purchase price. The good news is that this money is usually credited toward your down payment or closing costs at settlement.
Down Payment
The down payment is often the largest upfront expense when buying a home. Depending on your mortgage progra ...
Whether you're a first-time homebuyer or a seasoned homeowner, here's a breakdown of the most common fees you should expect when buying a home in the DC area.
Earnest Money Deposit
When you submit an offer on a home, you'll typically include an earnest money deposit. This deposit shows the seller that you're serious about purchasing the property. In many Washington, DC real estate transactions, the earnest money deposit ranges from 1% to 5% of the purchase price. The good news is that this money is usually credited toward your down payment or closing costs at settlement.
Down Payment
The down payment is often the largest upfront expense when buying a home. Depending on your mortgage progra ...
