Buying a home in Savannah takes more cash than many buyers expect. It is not just your down payment. You also need to plan for closing costs, prepaid expenses, utility setup, insurance, and the first wave of move-in costs so you can get the keys without feeling stretched too thin. Let’s dive in.
Savannah buyer costs at a glance
A helpful way to plan your budget is to break your cash needs into separate buckets. This gives you a clearer picture of what is due before closing, at closing, and right after move-in.
Those buckets usually include:
- Down payment
- Earnest money deposit
- Closing costs
- Prepaid taxes and insurance
- Escrow deposits
- Moving expenses
- Utility setup and deposits
- Immediate repairs, furnishings, and reserve savings
For many buyers, closing costs alone commonly run about 2% to 5% of the purchase price. Your earnest money deposit is often 1% to 3% of the purchase price, and that amount is usually applied toward your down payment or closing costs at closing.
What “cash to close” really means
One of the biggest points of confusion for buyers is the difference between closing costs and total cash needed at the closing table. They are not the same thing.
Your Closing Disclosure includes a line called Cash to Close. That figure can include your down payment, closing costs, prepaid items, escrow deposits, credits, and other adjustments. In other words, it is the final amount you need to bring, not just the fee total.
You should also expect your Closing Disclosure at least three business days before closing. That gives you time to compare it with your earlier Loan Estimate and check for changes before signing.
Common Savannah closing costs for buyers
Some closing charges are common almost everywhere, while others are especially important in Georgia and Chatham County. Knowing the difference can help you ask better questions early in the process.
Lender fees
If you are using a mortgage, your lender may charge fees for:
- Origination
- Application
- Underwriting
- Processing
- Administrative work
- Discount points, if you choose to buy down your rate
These costs vary by lender and loan program, so they are worth reviewing line by line.
Third-party fees
Buyers in Savannah should also expect third-party charges that often include:
- Appraisal
- Title services
- Lender’s title insurance
- Home inspection
A home inspection is an important pre-closing cost to budget for. It can help you understand the home’s condition and, depending on your contract terms, may support renegotiation or cancellation if significant issues are found.
Title costs
Title-related charges can be one of the larger closing cost categories. These fees often include the title search, lender’s title insurance premium, and sometimes the closing fee.
Owner’s title insurance is usually optional, while lender’s title insurance is commonly required when you have a mortgage. Buyers who shop title services may be able to reduce costs, and title insurance premiums nationally often range around 0.5% to 1.0% of the purchase price.
On a $400,000 home, that range would be about $2,000 to $4,000. Your exact numbers will depend on the property and provider.
Georgia-specific costs Savannah buyers should know
Georgia has a few closing practices and charges that stand out. If you are relocating from another state, these may be new to you.
Georgia attorney closing requirement
In Georgia, a licensed Georgia attorney must oversee the real estate closing. That means attorney involvement is a normal part of a Savannah purchase, and you should expect an attorney fee on your settlement statement.
This is a standard part of the process in Georgia, not an unusual extra.
Transfer tax
Georgia charges a real estate transfer tax before recording. By default, the seller is liable for this tax, but the purchase contract can shift that cost to the buyer.
The rate is $1 for the first $1,000 of the sale price and 10 cents for each additional $100 or fraction thereof. On a $400,000 purchase, that works out to about $400 if the buyer agrees to pay it under the contract.
Recording fee
Chatham County charges a $25 per deed real estate recording fee. This is a local recording cost buyers should expect to see as part of the transaction paperwork.
Intangible recording tax
Georgia also imposes an intangible recording tax on long-term notes secured by real estate. The rate is $1.50 per $500 of the loan amount, subject to applicable rules and exemptions.
On a $350,000 mortgage, that tax would be about $1,050 if the loan is subject to the tax. This is one of the Georgia-specific costs that can catch out-of-state buyers by surprise.
Prepaid costs due at or before closing
Not every dollar tied to your purchase is a fee. Some amounts are prepaid housing expenses that must be funded up front.
Homeowners insurance
If you are financing your home, homeowners insurance is generally required by the lender. It is common to pay the first year’s premium in advance at closing.
If your loan includes an escrow account, you may also need to make initial escrow deposits for future insurance payments. If there is no escrow account, you still need to budget for the policy separately.
Property tax escrows
Property taxes are another major ongoing cost in Savannah and Chatham County. The exact amount depends on the specific parcel, fair market value, and the applicable millage rates.
If you live within the City of Savannah in Chatham County, your total tax picture may include city, county, and school taxes. Buyers should remember that these are recurring ownership costs, not one-time closing charges.
Flood insurance planning
Savannah buyers should pay special attention to flood risk. The area’s flat coastal geography and proximity to the Atlantic Ocean, Savannah River, and tidal creeks mean many acres in Chatham County fall within floodplains.
Standard homeowners insurance does not cover flood damage. If a home is in a high-risk flood area and you are using a federally backed mortgage, flood insurance is typically required.
The City of Savannah also notes that flood insurance timing matters. If risk is increasing, a flood policy should be in effect 30 days before the effective date, so this is not something to leave until the last minute.
In some cases, buyers may also need follow-up items such as a survey, elevation review, or a Letter of Map Amendment if the property’s elevation could affect the premium. That means flood-related costs can become part of your pre-move budget even before you unpack.
Savannah move-in costs buyers often forget
The closing table is only part of the story. Your first month in the home can bring several costs that are easy to overlook.
Utility setup fees
The City of Savannah has specific requirements for setting up utilities. New owners need a copy of the settlement statement or recorded deed, identification, and any past-due balances in the prior owner’s name must be addressed before service is established.
The city charges a $30 nonrefundable fee for a new utility account or transfer to a different location. Deposits may also be required, starting at $100, depending on meter size.
HOA or condo fees
If you are buying a condo, townhouse, or home in a planned community, make room in your budget for HOA or condo fees. These may be charged monthly, quarterly, or annually.
They also may not be included in your mortgage escrow account. That means you may need to pay them separately right away, even while handling other move-in expenses.
Moving, repairs, and furnishings
Moving trucks, basic repairs, paint, window coverings, appliances, and furniture can add up quickly. Even if the home is move-in ready, there are often a few immediate purchases that hit in the first several weeks.
That is why it helps to keep a separate reserve for move-related costs instead of using every available dollar on your down payment.
A simple budgeting framework for Savannah buyers
If you want a practical way to prepare, think about your home purchase in layers instead of one big number. That approach makes it easier to spot gaps before closing week.
Here is a simple framework:
- Down payment
- Earnest money deposit, often 1% to 3%
- Closing costs, often 2% to 5%
- Georgia and local charges, such as attorney fees, recording fees, transfer tax if negotiated, and intangible recording tax if applicable
- Prepaids and escrows, including insurance and property taxes
- Post-closing costs, such as utility setup, HOA dues, moving, repairs, and furnishings
- Emergency savings, ideally three to six months of expenses
This layered approach is especially helpful in Savannah, where flood insurance, utility deposits, and property-specific local costs can all affect your final number.
How to avoid budget surprises before closing
A little preparation can go a long way. The goal is not to predict every penny months in advance. It is to know which categories to ask about and when to confirm them.
A few smart steps include:
- Review your Loan Estimate carefully
- Compare it with your Closing Disclosure when it arrives
- Ask whether the contract shifts transfer tax to the buyer
- Confirm attorney, title, and lender fees early
- Ask about flood zone status and insurance requirements
- Check whether there are HOA or condo fees
- Plan for utility setup costs with the City of Savannah
- Keep a separate moving and repair reserve
For many buyers, the smoothest transactions happen when the budget includes room for both expected costs and a little cushion.
When you understand the moving parts ahead of time, you can focus more on the excitement of buying and less on last-minute stress.
If you are planning a move in Savannah or the surrounding coastal market, working with a local team can help you stay organized and prepared from search to closing day. Connect with Homes by TLC - Taylor Lomprez for tailored guidance as you budget for your next home.
FAQs
What are typical closing costs for home buyers in Savannah?
- Buyers in Savannah should generally plan for closing costs of about 2% to 5% of the purchase price, though the final amount depends on the loan, property, and contract terms.
What is included in cash to close for a Savannah home purchase?
- Cash to close can include your down payment, closing costs, prepaid items, escrow deposits, credits, and other adjustments shown on the Closing Disclosure.
Do Savannah buyers need a Georgia closing attorney?
- Yes. In Georgia, a licensed Georgia attorney must oversee the real estate closing, so attorney involvement and attorney fees are a normal part of the transaction.
Do buyers in Savannah pay the Georgia transfer tax?
- By default, the seller is liable for Georgia transfer tax, but the purchase contract can shift that cost to the buyer.
How much is the Chatham County recording fee for a deed?
- Chatham County lists a $25 per deed recording fee for real estate documents.
Do Savannah buyers need flood insurance?
- Flood insurance depends on the property and loan type, but standard homeowners insurance does not cover flood damage, and buyers in high-risk flood areas with federally backed mortgages are typically required to carry it.
What utility costs should a new Savannah buyer expect?
- The City of Savannah charges a $30 nonrefundable fee to start or transfer utility service, and deposits may be required starting at $100, depending on meter size.
Should Savannah buyers keep extra savings after closing?
- Yes. It is wise to keep a reserve for moving costs, repairs, furnishings, and an emergency cushion of three to six months of expenses rather than using every dollar at closing.
