Millennials Don’t Know About Closing Costs

It seems millennials do not know about or understand closing costs, and the responsibility to tell them about closing costs is falling to Real Estate Agents. Two-thirds of potential home buyers between the ages of 18-34 are unaware of closing costs, and therefore the true cost of buying a home. And, interestingly, one-third of all home buyers, regardless of age, do not understand what closing costs are. 

Closing costs are usually between 2 and 5% of the selling price, quite significant to all buyers, and especially first-time buyers.

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