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What do you know about adoption costs?

| Jan 26, 2021 | Adoption |

Perhaps you want to start or expand your family, but you want to adopt. You know your options for adopting in Texas, but do you know how much each adoption option costs? 

U.S. News & World Report explores the matter. Know which figures to add to your adoption budget. 

Adoption methods

Do you see yourself adopting domestically, internationally or from foster care? Each avenue comes with varying costs. Domestic adoptions handled by an agency range from $20,000 to $45,000. You may save money if you and an expectant mother work together to handle the adoption, which may cost between $15,000 and $40,000. With foster care adoption, the state may cover your attorney, adoption and home study fees. Expect varying figures if you choose international adoption, as the cost depends on the country. You must also include the cost of traveling to foreign countries. 

Costs associated with adopting

Beyond the adoption method, add the various costs of adoption to your budget. If you work with a consultant to help you through the adoption process, that may cost more than $3,500. You may have to pay to support the expectant mother, which could include footing the bill for health care bills, the birth and maternity clothes. If you want to work with expecting parents, you may have to create (and pay for) a special book that shows why you have a great home in which to raise and love a child. Your adoption journey could involve a home visit where you show evidence that you have a home safe enough for a child. This may cost between $1,000 and $4,000, more if you must renovate your property to make it suitable for a young child. 

As you prepare yourself for adoption, prepare your finances, too. Careful financial planning helps you along the road to adoption success.