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Banking Residential Real Estate

Closing costs don’t differ much by county

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Potential home buyers who think they’ve saved enough for their starter house should factor in closing costs, which could add more than 4 percent to the purchase price.

According to Smart Asset, a New York financial tech company, the lowest closing costs in Delaware are in New Castle County, but not by much.

The Smart Asset survey showed closing costs as a percentage of the total home cost.

In New Castle County, they were 4.5 percent of the $243,400 median home value. Average closing costs were $10,952, the company said.

In Sussex County, the median home value was $231,400, and closing costs were $10,540 or 4.6 percent.

The median home value in Kent County was lower — $200,200. Closing costs were lower at $9,470, but higher as a percentage of the home value at 4.7 percent.

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