Is there a rule of thumb for estimating closing costs?

2 Replies

New investor, just starting out. Curious if there is a reasonably good rule of thumb for estimating both purchase and sale closing costs. For example, if I bought a single family home in PA for $100K, what would I incur in closing costs at time of purchase, and then again if I turned around and sold it for $100K again (obviously a hypothetical example)? Thanks in advance for your insights.

I don't know the average percentage, but I've bought in the $50k-$100k range, and it's always been $3k-$5k. 

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here