I’ve helped lots of families close in neighborhoods from Northgate to Peyton over the last 5 years, and the #1 surprise is still the closing costs when buying a home in Colorado Springs. Get your Loan Estimate as soon as possible so you are familiar with your numbers. When you offer on a house, sellers want to see you are approved with a lender and I can help fill in the numbers based on price of home, taxes and HOA dues.
In Colorado Springs we are seeing the occasional seller concessions up to 1-5% if you put in a good offer!
Closing costs when buying a home in Colorado Springs typically range from 4–6% of the purchase price depending on the type of loan. On a $480,000 median-priced home (Pikes Peak MLS Stats – https://ppar.com/MarketTrends.aspx), that’s $19,200–$28,800 out of pocket. The biggest items are lender origination and appraisal, title insurance and settlement fees, prepaid property taxes/HOA, home inspection, and often radon testing. This is also before your down payment.
Bottom line: budget 6% and you’ll be safe.
Common mistakes to avoid:
- Not looking at your budget.
- Avoiding a discussion with a local lender.
- Looking at homes out of your price range.
Need more info? Check out the Steps to Buying a Home in Colorado Springs.
Moving here for the mountains or a military PCS? Text or call me anytime—I’m here to make the numbers work for you.
I’m Andrew Bacon, a Top Colorado Springs Real Estate Broker in Colorado Springs. I take care of my clients as family and aim to provide them with the necessary information and tools to navigate the complex markets in Colorado and around the US.
As a member of the Pikes Peak & Denver Metro Association of Realtors, I enjoy staying aware of current cultural trends and economic drivers.Check back regularly for new articles on all things real estate along Colorado’s Front Range.
More Articles
- Top Ski Resorts Near Colorado Springs: Your Winter Getaway Guide
Ski resorts near Colorado Springs offer incredible options for locals and visitors seeking quick mountain escapes without long drives. With our city’s proximity to the Rockies, several world-class destinations are just 2–3 hours away, making day trips or weekend getaways easy and affordable. Here’s a… Read more: Top Ski Resorts Near Colorado Springs: Your Winter Getaway Guide - Ongoing I-25 Construction in Colorado Springs: Fillmore to Garden of the Gods Update
The I-25 construction in Colorado Springs project is transforming traffic flow along a key stretch, with ongoing work between Fillmore Street and Garden of the Gods Road aimed at enhancing safety and efficiency. Launched in late October 2023, this $62 million initiative addresses congestion in… Read more: Ongoing I-25 Construction in Colorado Springs: Fillmore to Garden of the Gods Update - Is Home Equity Fake Wealth in Colorado Springs Real Estate?
Is home equity fake wealth? In Colorado Springs, where home values have surged 20-30% since 2020 due to low inventory and high demand, this question is more relevant than ever. Home equity—the difference between your home’s market value and mortgage balance—feels real when prices rise,… Read more: Is Home Equity Fake Wealth in Colorado Springs Real Estate? - Difference Between an ILC and a Survey in Real Estate
The difference between an ILC and a survey in real estate is crucial for home buyers and sellers in Colorado Springs, where property boundaries and improvements can impact transactions amid our hilly terrain and growing suburbs. An Improvement Location Certificate (ILC) is a limited certification… Read more: Difference Between an ILC and a Survey in Real Estate - Google Is Entering the Portal Wars with MLS Listings: What It Means for Colorado Springs
Google is entering the portal wars with MLS listings through its new Google Home Listings feature, which now pulls real-time data directly from the Multiple Listing Service (MLS) for more accurate property searches. Announced in late 2025 and rolling out in early 2026, this move… Read more: Google Is Entering the Portal Wars with MLS Listings: What It Means for Colorado Springs - Owning Your First Short Term Rental in Colorado Springs: A Beginner’s Guide
Owning your first short term rental in Colorado Springs can be a rewarding way to build wealth and generate income, thanks to our city’s year-round tourism, military relocations, and outdoor attractions. From Pikes Peak visitors to families exploring Garden of the Gods, demand for short-term… Read more: Owning Your First Short Term Rental in Colorado Springs: A Beginner’s Guide
