What Expenses to Expect When Purchasing a Home

Originally written by WK Real Estate, dated July 10, 2023

Purchasing a home is one of the biggest investments most people will make in their lifetime. However, the price of the house is just one of the expenses you need to consider. There are several other expenses that come with buying a home that you should be aware of. Therefore, to help you prepare, we’ll discuss some of the expenses you can expect when purchasing your home.

Down Payment

A down payment is the initial payment you make towards your home. It is usually a percentage of the total price of the house. The amount of down payment you will have to make depends on your lender and the type of mortgage you choose. Typically, down payments range from 3% to 20% of the home’s purchase price. When you go under contract, you will need to provide some of this down payment upfront in the form of Earnest Money. Each home will identify the amount of earnest money that is due usually 3 business days after going under contract.

Closing Costs

Closing costs are fees you have to pay when you close the deal on your new home. These costs typically include fees for appraisals, inspections, title insurance, attorney fees, and more. The cost of closing fees can vary from 2% to 5% of the home’s purchase price.

Home Inspection

A home inspection is a crucial step in the home buying process. It is a thorough examination of the home’s structure, foundation, electrical system, plumbing, and more. The purpose of a home inspection is to identify any potential problems with the home before you buy it. The cost of a home inspection can vary depending on the size and age of the home. On average, you can expect to pay between $300 and $500 for a home inspection.

Appraisal Fees

An appraisal is an assessment of the home’s value. Lenders require an appraisal to ensure the home is worth the amount you are borrowing. The cost of an appraisal can vary depending on the location of the home and the size of the property. On average, you can expect to pay between $300 – $600 for an appraisal.

Property Taxes

Property taxes are an ongoing expense you will have to pay as a homeowner. The amount of property taxes you will have to pay depends on the value of your home and the tax rate in your area. Property taxes can range from a few hundred dollars to several thousand dollars per year.

Homeowners Insurance

Homeowners insurance is an essential expense for homeowners. It protects your home and personal property from damages caused by fire, theft, and natural disasters. The cost of homeowners insurance can vary depending on the location of your home, the size of the property, and the level of coverage you choose. On average, homeowners can expect to pay between $700 and $1,500 per year for homeowners insurance.

HOA Fees

If you are purchasing a home in a community with a homeowners association (HOA), you will have to pay HOA fees. These fees cover the cost of maintaining the common areas of the community, such as parks, pools, and playgrounds. The cost of HOA fees can vary depending on the community and the amenities offered. On average, you can expect to pay between $200 – $400 per month in HOA fees.

Home Maintenance

As a homeowner, you will be responsible for maintaining your home. This includes regular upkeep, such as cleaning gutters, replacing air filters, and landscaping. You may also have to pay for unexpected repairs, such as a leaky roof or a broken appliance. The cost of home maintenance can vary depending on the age and condition of your home.

Moving Costs

Finally, you will have to consider the cost of moving into your new home. This includes the cost of hiring movers, renting a truck, and buying packing supplies. The cost of moving can vary depending on the distance you are moving, the amount of stuff you have, and the services you require.

In conclusion, purchasing a home involves many expenses beyond the price of the property itself. It’s important to be aware of these expenses and factor them into your budget when buying a home. Some of these expenses, such as down payment and closing costs, are one-time expenses, while others, such as property taxes, homeowners insurance, and home maintenance, are ongoing expenses that you will need to budget for.

By understanding the expenses involved in buying a home, you can better prepare for the financial responsibilities that come with homeownership. While it may seem daunting, owning a home can be a great investment and a source of pride and stability. With proper planning and budgeting, you can enjoy the benefits of homeownership while managing the expenses that come with it.

Shoutout Colorado Feature: Beth Goltz

I am honored to be featured on Shoutout Colorado as a local story. Shoutout’s mission is about sparking meaningful conversations with the heart of the community — small business owners, mom-and-pop shops, and independent artists and creatives. It was a great opportunity to share more about my business and what my thought process was about starting my business: Beth Goltz Real Estate & Design.

If you’d like to read more about my story, see some of my projects, and hear where I would take a best friend visiting from out of town, see the publisher’s link below:

Simple Design Tips

I have many people that reach out to me telling me they have “zero” design sense and have no idea where to start on finishing a space. I actually disagree with them often because the ideas they bring to me are usually really great! I just think the idea of designing a space can be overwhelming. However, as a designer, we usually just take a step back and think neutrally about where the space needs the most help and then decide how best to tackle the project. Here are some main categories I would think of as I work through a project.

  1. Organization. Getting rid of clutter and unnecessary items lying around is the first step in freshening up a space.  Sound simple?  Because it is!  Go section by section of a room and ask yourself: “Do I still need/use/want this item or is it just collecting dust?” If it is sentimental – maybe it’s worth holding onto, but if you catch yourself having an excuse for every item you hold onto, you probably need to narrow it down to items you still resonate with.  I’m not telling you to throw away every sentimental item, but not every one needs to be on a display in a room.  Decide what could be packed up & stored away and as another idea – is there a room that could use some decor that you could move it to?  Think outside the box — maybe a powder room could really benefit from some classy antiques!  
  2. Lighting. I cannot stress enough how much the lighting can affect a space.  Pay attention to your light bulbs’ color temperature: warm, neutral, cool.  Generally, you want a warm white in living rooms and bedrooms, soft white in kitchens and bathrooms, and keep cool bulbs for spaces you really need a bright light like an office or work space. Adding in table lamps with a warm light for evenings also adds great ambience.  Lightbulbs are such a cheap fix and can make a huge difference.  
  3. Theme.  If you’re redoing a whole room, think about the theme and feeling you want. Is it rustic, traditional, nautical, mid-century mod, or even bohemian? Then base your decor decisions on that theme.  If you combine too many themes, it can feel unsettled and busy.  If you haven’t given your home design a thought it awhile, I’m sure it is a combination of too many themes as designs go in and out over the years.  If a whole redesign is more than you’re ready to take on, look around the room and pull out a few items that could use a refresh.  Some affordable ideas — new candles & holders, new succulent (or convincing faux) plants, new throw blankets and pillows, or art on the wall.
  4. New color scheme. If you choose to really start from scratch in a room, here is a design guideline from interior design school… the 60-30-10 method. Make 60% of the space in a dominate color, 30% in a secondary color, and 10% in an accent color.  Go beyond that and it will be too busy.   Look at a color wheel — believe it or not, this was invented by Sir Isaac Newton and color hues are arranged sequentially so that related colors are next to each other & complementary colors are opposite.  So feel confident those colors will work together if you are ever at a loss 😀. 
  5. Think resale. Sorry, but I had to!  For more permanent decisions like hardwood floors or major remodels (like a full kitchen or bath), think of resale even if you aren’t planning on selling.  Decisions that appeal to a broader audience will attract the most buyers later down the road when you do eventually sell.  Those unique decisions that you love may not resonate with others and when you try to sell, you will feel frustrated that others aren’t connecting with your decisions, especially if you spend a lot of money on them.  Just keep that in the back of your mind!  If you really want to be unique, do that with easy to replace decisions like wallpaper or paint.

Now, you’re ready to feel confident with some design updates! Of course if you really need help, I’m here and happy to help. Please reach out below for any CO real estate or design needs.

Is it Time to refresh your powder room?

Earlier this month, I was interviewed for an Apartment Therapy article about ideas on how to put the “pow” in your powder room. You may not think of a half-bath as a space to focus much design effort on, but it is an important part of the house because the half-bathroom is the guest bathroom! If you’re sending your guests to the powder room, you want the space to be clean, welcoming, and a good reflection of your home. Many updates can be simple such as swapping out hardware, lights, or even the mirror. But if you want to give the space a complete overall, it’s such a great opportunity to have some fun like this Denver powder-room I’m working on now.

If you’d like more ideas for half-bath design ideas, click to read the article on Apartment Therapy written by Wendy Helfenbaum.

Color Your World (Or at Least your Walls) and Change Your Mood

Most of us have been spending more time at home lately, perhaps staring at those same walls and yearning for a different color, a new ambiance. Changing your mood may be as easy as painting your walls a new color. But which hues should you choose?

Whether you’re redesigning one room or your entire living space, there are ways to evoke specific emotions just by carefully selecting your wall color. By embracing the psychology of color, you can create a more lively living room, a creative kitchen, a calm and peaceful bedroom, or a studious-minded study. So go ahead, transform any room into your perfect vision.

Your choice of wall color can make an expansive room seem more intimate, or a too-small room appear a little larger. What atmosphere do you want to create?

We’ve gathered some enlightening information about how the wall colors in a room can affect your mood, your feelings, and even your actions.


What is Color Psychology?

Colors can affect our moods, including physical and emotional reactions. For instance, blue and green colors promote a relaxed, calm feeling, while yellows and orange colors can make us feel more energetic and productive.

Scientists, artists, and interior designers have been studying some form of color psychology for centuries. Long ago, some ancient Egyptian and Chinese cultures practiced light therapy (also called chromotherapy) using colors to heal ailments.

More than 350 years ago, Sir Isaac Newton, an English scientist, discovered all the visible colors when he passed pure, white light through a prism. In his groundbreaking research, he found that each color, on a single wavelength, couldn’t be separated. However, some color lights could be combined into new colors, such as red and yellow lights forming orange light.

Over the years, the knowledge gained from studying color psychology has helped drive advertising, marketing, and art. It has also changed interior design decisions, from offices to homes. Some color/mood beliefs have even made it everyday sayings, like “I have the blues” or “I’m green with envy.”

Colors Have Personalities

Can your feelings and behaviors become altered – calmed, or enlivened, peace-filled, or energized – just by the colors around you? Yes.

When you’re choosing the dominating color of your rooms, it’s a good idea to keep “color personalities” in mind, along with your goal for that room. Do you want a soothing space for your teething toddler or an invigorating, creativity-inspiring color for your art or crafts room? Do you work at home and want to help boost your productivity?

The saturation of color – how deep, how intense the hue is – can also influence its effect. For instance, a bright, canary-yellow wall will have a more cheery effect than a subdued, muted yellow. A deep red color may be perceived as more aggression-inspiring than a more subtle, welcoming pink.

When perusing colors, keep in mind there are two types of colors: warm and cool. Interior decorators often choose a pleasing balance of both within a room.

Color Temperatures

Pick up a color wheel from your favorite arts and crafts store, interior designer, or home improvement store. You can also find a color wheel online. This wheel shows primary, tertiary and other colors and their relationships with one another. The color wheel also shows warm and cool colors. It’s an important tool in picking wall colors and complementing decor colors for furnishings and accessories or less dominant walls.

Warm Colors

Colors can be warm or cool, or with undertones of warm or cool. Warm colors tend to make a room look cozier and inviting. They can give small rooms the impression of being smaller, or make bigger rooms more intimate. Warm colors are reminiscent of sunsets and the warmth of the sun. They can be reds, browns, orange-reds, tans, yellows, and yellows with green undertones.

Cool Colors

On the opposite side of the color wheel are cool colors and colors with cool undertones. On walls, these colors give more of a calm, peaceful, soothing feel to a room. While warm colors advance, cool colors recede into the background, so if you have a small bedroom, a cool wall color helps make it look roomier. However, cooler colors may not feel as comforting as warm colors. Cool colors include blues, blue-greens, purples and lavenders, colors you may see on an overcast, gray, or winter day. They’re ideal for sunrooms or other airy places in your home.

When deciding on colors, don’t forget about neutral colors like whites, grays, and blacks, and all the color ranges within. These colors can be either warm or cool depending on their undertones.

How to Choose the Right Color

Now that you have a little knowledge about color temperatures and how colors can change the mood of a room, it’s time to explore ways to change up your own space. Here are some popular colors and the effect they may have on your room, and room choices.


Blue colors are excellent choices for bedrooms. A calming, serene color that helps you relax, re-balance, and clear your mind after a stressful day, blue also helps lower blood pressure and steady your breathing. These are great aspects to help you fall asleep or unwind. You can warm the cool blue colors with warm-colored accents. Walls in calming hues of blues and greens also are great for lounging rooms, offices, dining rooms, and living rooms.


Pink is a more subdued hue of red. Pink walls help relieve anger and other negative feelings, bringing a positive, balanced, imaginative feeling to the room. Subtle pink is perfect for instilling joy in bedrooms, nurseries, playrooms, and creative workspaces.


Green hues are also excellent choices for sleep rooms or offices. Green invokes both an aura of prosperity and relaxing restoration. Green hues coax mind-clearing, composing, restful feelings. Green also is a great choice for people who love the outdoors, giving a natural look.


Many people like the crisp, clean look of white walls and ceilings. White can open up the look of your room, making it appear more spacious and pure. White ceilings seem higher, too. White, which evokes purity, goodness, and innocence, doesn’t add or subtract energy from your atmosphere. Instead, it’s a neutral choice, providing a blank canvas of sorts to accentuate your space with the warm or cool colors of your choice.


Some people consider red as a romantic and social color, equating it to red roses, Valentine’s Day, or that sultry red party dress. However, psychologically, red is also paired with aggression and hostility. It can raise your heart rate and blood pressure and is linked with being irritable.

Carefully consider which room you want to paint red. You may not want the color in your bedroom, as it won’t promote peace, relaxation, and tranquility. Instead, reserve it for rooms where you entertain and hold gatherings, or one wall of a library or another room. Low-light rooms with red walls do exude an elegant aura.

Purple, Lavender

Purple is not just for kings and queens anymore. This rich, dramatic color is traditionally known as the color of luxury and royalty, with undertones of romance, sophistication, and mystery. Purple colors can spark creativity on the walls of your art studio, craft space, or family room.

If you love purple and want to repaint your bedroom, consider a lighter, more relaxing, and calming hue of purple like lavender or lilac.


Orange walls ensure an aura of energy, excitement, and enthusiasm. Bring this color into rooms where you exercise and want stimulation. Orange may be too intense for kitchens (you don’t want to be stimulated into eating), living rooms, or bedrooms if you want to relax in those rooms.


Brighten the look of your room and boost your mood with lively, invigorating yellow walls. This cheery color increases your energy and helps instill a happy, joyful feeling. It can stimulate mental and physical energy and makes a great addition to your kitchen while you’re getting ready for the day with that first cup of coffee. Soak up the look of sunlight and flowers for an uplifting aura. This color also looks fantastic in the bathroom, laundry room, and porch walls, anywhere a sunny look is welcomed.


Want your room to feel bold and sophisticated, edgy yet cozy? Consider painting one or more walls a sleek black. Dark walls pair perfectly with rich, sumptuous surroundings for an imposing and dramatic yet comforting ambiance. Black is synonymous with strength, authority, formality, and power. It can, however, make your room overly dark or foreboding.


Some of the most on-trend interior wall colors are the many warm and cool shades of gray. Gray colors promote a timeless, practical look, perfectly neutral for adding your own special touches.

Gray walls may cancel out creative, energetic impulses, though. Many homeowners prefer having gray hues in common areas and bedrooms and balancing them with complementing, more vibrant colors on accessories or non-dominant walls.

Get Creative and Have Fun

Whether it’s your whole house or one room at a time, transform your space with a color that’s perfectly you. Using the color wheel and color swatches, get creative and try different combinations of colors in your room with a balance of warm and cool colors. Finding the best home decor color can bring a fresh look to your space.

Originally posted on Porch.com

The truth about online home shopping

The start of a home search for nearly everyone starts online…. Zillow.com, Trulia.com, realtor.com.  There are a ton of sites out there for people to view homes for sale, recently sold, or even get an estimate on what these sites think the value of a home is.  The problem is, this information can be widely inaccurate and this ultimately leads to disappointment & frustration for home shoppers & sellers alike.  Let me explain.

Not all homes for sale are syndicated on these public sites.

  • It is up to the seller to decide if they want their home listed on these public sites or not.  Therefore, all homes that are listed for sale on the real estate MLS ( multiple listing service) site are not necessarily shown for sale on the public sites.  Your dream property may not even coming up in your search, but it’s sitting right there on MLS.  To get a true picture of what is out there for sale, you’ll want to talk with a realtor.

Data is not refreshed in a timely manner.

  • The 3rd party sites aren’t always refreshed in a timely manner so what may still look like an active listing for sale on Zillow is actually under contract on MLS.  I’ve even had a buyer send me a house for sale on Zillow to get my opinion and when I looked at MLS, it was sold months ago.  You don’t want to fall in love with a house online to then see it’s not even for sale.

Data is not complete.

  • MLS has hundreds of fields that realtors can fill in to give a complete picture of what the home has.  The online public sites only have a fraction of that.  So if you have a specific requirement in a home, you may think it’s perfect from your search online, but once you actually see the home or your realtor does the digging for you, it turns out to be missing one of your requirements.

Online home value estimates are widely inaccurate.

  • These public sites are using an algorithm and do not take into account the true details of a house.  The public sites don’t know about improvements that have been made to the home and if information like the number of bedrooms or square footage is off, the online estimate will be off.  These sites also use comparable sales for their data points and what they think is a comp, may not be a comparable property when you look at the true factors of the houses.

Even with these points, I do still support buyers shopping online.  It is a good way to get a taste of the different types of homes & a general idea of what is out there.  Once a buyer has spent time searching online, the safest bet is to share what they found with a realtor and go look at the homes in person.  Pictures online can be hiding some important characteristics about the home and you can only get the true picture until you are on the property.


If you have been poking around online on your own and you want to share with a REALTOR® what you have been looking at in Colorado, I’d love to help!  Please email me at bgoltz@wkre.com or reach out via the contact information below:

New Construction Doesn’t Mean Problem-Free

I’ve heard it many times on showings or while having conversations with people — the assumption that a new build won’t come with any problems. Unfortunately, new doesn’t mean problem-free. In fact, new homes will likely have some issues whether it be missed construction items or construction defects. Even with an inspection of the home, some issues may not be uncovered until the buyer moves in which can be frustrating. I recently read an article from one of the inspection companies I work with that brings to light some of the common problems with new construction.

Read the article from Scott Homes here: https://bit.ly/2xzn7IR

To highlight some of the items they discuss:

  1. Dirty duct systems
  2. Doors that don’t close properly
  3. Windows issues
  4. Incorrect plumbing or appliance hook-ups
  5. Overlooked painting

If you are thinking of a new build, this article is worth a read. If you need help with your home search in Colorado, I would love to help! Please reach out via the contact tab here or email me at bgoltz@wkre.com.

Important Home Health Items

As a REALTOR®, I help my buyers ensure they are taking the appropriate measures to validate that the home they are buying is safe for their family.  Typically this involves an inspection by a certified inspector during the transaction period.  As standard practice, the inspector will do a whole-home inspection, but there are often optional add-ons to test for items that can cause serious health concerns.  Being aware of a few key items that can be of concern is important so you can ask the right questions to the inspector, request the right tests, and be knowledgeable moving forward living in your home.

Here are three important items to be made aware of:

#1 ~ Lead

Homes built before 1978 have a high likelihood of containing lead-based paint.  Lead can be dangerous if not managed properly and disturbing surfaces with lead-based paint or removing lead-based paint improperly can increase the danger to your family.  If you are buying, renting, or renovating a home built before 1978 and have children under the age of 6, you may want to have it checked for lead-based paint.  Lead is especially dangerous to children under the age of 6 because their brains and nervous systems are more sensitive to the damaging effects of lead.  However, be aware that lead-based paint is usually not a hazard if it is in good condition and if it is not on an impact or friction surface like a window.  Always keep painted surfaces in good condition to minimize deterioration.

Visit here for more info on lead.

#2 ~ Asbestos

Asbestos is a naturally occurring mineral substance whose fibers were mixed into many products, including building materials.  In the 70s and 80s, reports started to emerge that inhaling the small fibers of asbestos could cause health complications including lung cancer. Since then, the US government has restricted the use of asbestos, but that still leaves us with many homes that were built with materials containing asbestos.  The top 5 products that you can find asbestos in are:

  • Popcorn ceilings
  • Asbestos ceiling tiles popular between 1950s – 1980s, often found in kitchen ceilings or remodeled basement areas
  • Vinyl floor tiles – the most commonly produced vinyl tile product containing asbestos was the 9×9 inch tile that was sealed to floors with adhesive.
  • Heating duct pipe wrapping – asbestos insulation was widely used on heating pipes and sometimes on water pipes.
  • Vermiculite –  a popular attic insulation material used in houses built from 1900-1940s

Be aware that asbestos is not considered harmful unless it is damaged or disturbed in some way, which could release the dangerous fibers into the air. As the EPA states: “Asbestos-containing materials that aren’t damaged or disturbed are not likely to pose a health risk. Usually, the best thing is to leave asbestos-containing material alone if it is in good condition.”

Visit here for more info on asbestos.

#3 ~ Radon

Radon is toxic gas that is derived from naturally decaying uranium in the soil. Uranium is naturally found in our soils all across the nation, and is especially prevalent in Colorado.  Uranium can be found below homes both new or old and as it decays, it releases radon gas.  The radon gas rises to the surface and can rise through gaps and cracks in a homes foundation or walls.  It is odorless, colorless, and tasteless and can only be detected with radon testing equipment.  It is considered to be carcinogenic by the World Health Organization (WHO) and a leading cause of lung cancer.

The Environmental Protection Agency sets radon safety levels at 4.0 pCi/L (pico-curies-per-liter) and if a home is found to have radon levels at or above this, it is advised to do radon mitigation.  Since radon can be found below homes both new or old, it would be a wise safety measure to always do a radon test within the inspection period.

Visit here for more info on radon.

If an inspector does uncover any of these items during the inspection period, you can speak with your realtor about options on how to move forward.  Most important is that you are aware of the concerns and can make a smart decision on how you want to move forward.


If you need assistance from a REALTOR® to help in your Boulder-Denver area home search, I would love to help!!  Please reach out via email at bgoltz@wkre.com or through the contact info below.

Hottest Home Trends of 2019

With this post, I am not trying to pretend like I am a design expert, but being a REALTOR® and someone who is interested in “all things home”, I do read a lot of home articles, posts, and blogs.  Lately, I feel like one after another is about the hottest trends to expect for 2019 – from paint colors to interior design, furniture design, and overall home. If you have plans for redecorating or want to refresh some of your spaces, it can’t hurt to know what experts believe will be resonating in 2019.  I have gathered together some of the more valuable articles I have read and pulled out a few consistent points I am seeing across sources.

Predictions for what will be hot in 2019:

  • More bold, vivid, high-contrast patterns and more vibrant accent colors
  • Pantone declares Living Coral is the color of the year. What it conveys: Life-affirming, optimism, joy.
  • Earth tones: all versions of sand and earthy colors like ochre, burnt gold, and terracotta like Sherwin-Williams’ 2019 color Cavern Clay
  • Art Deco influence to become more prominent in the coming year
  • Ornate & textured walls and wallpaper
  • Antiques and handmade, custom pieces – return to handcrafted authenticity
  • Live Greenery and biophilia (the innate tendency in human beings to focus on life and lifelike process)
  • Innovative uses and mixing of metals 
  • Matte Black

If you have some time to read more for yourself, here are a few of the best articles I have read for 2019 predictions: 

All in all, I believe what is most important is that you make design decisions that resonate well with you & your family.  If you aren’t a fan of a certain style, don’t try to force it because some people say it is “in style.”  And lastly, I still stand by the importance of timeless design decisions for major renovations if you want to maximize the resale value of your home which I touch upon in my last blog post:  Home Renovation Projects that Boost Resale Value of Your Home.

Happy planning and decorating!


If you or someone you know has any real estate needs within Colorado, I would love to help!  I support buyers and sellers primarily in the Denver-Boulder areas. Please reach out via the contact form below to start a conversation about how I can help you: