Homebuyer Questions? Here's What to Know First

Blog Post: What Buyers (Almost) Always Ask & Smart Tips to Answer Clearly

Buying a home is exciting—but it also brings a lot of questions. Whether you're a first-time buyer or just haven't done it in a while, it's normal to feel overwhelmed. The good news? Most buyers tend to ask the same things. Here's a breakdown of the most common questions buyers ask—and clear, honest answers you can trust.

1. How much are the property taxes?

This depends on the home’s location and type (single-family, condo, co-op). In NYC, annual property taxes can vary widely. For example:

• In the Bronx, a typical single-family home may pay around $4,000–$6,000/year.

• Co-ops often include taxes in the monthly maintenance fee.

• Condos list taxes separately.

Tip: Always ask for the actual tax bill or breakdown for the property, not just the listing estimate.

2. What are the hidden costs at closing?

Besides your down payment and mortgage, you’ll pay:

• Attorney fees (c. $1,500–$3,000)

• Title insurance (especially for houses and condos)

• Appraisal (c. $500-$800)

• Home inspection (c. $450–$750)

• Recording fees, transfer taxes, and more

Tip: Budget for 2–5% of the home price for closing costs. Your lender or agent can give you a more exact breakdown.

3. How much do I need for a down payment?

This depends on your loan type:

• FHA loans can require as little as 3.5% down.

• Conventional loans may need 3-20%.

• Some programs (like VA or SONYMA) offer low or no down payment options.

Tip: You might qualify for down payment assistance through programs like HomeFirst in NYC—ask your agent for help applying.

4. What does the home inspection cover?

A home inspection looks at:

• The roof, plumbing, electrical system, foundation, heating/cooling, and more

• It may reveal problems that aren't visible during a showing

Tip: Never skip the inspection. It protects your investment and gives you power to negotiate.

5. What happens after I make an offer?

Once your offer is accepted:

1. Schedule your inspection 

2. Sign a contract

3. Apply for your mortgage

4. The bank orders an appraisal & completes the mortgage process

5. Title is checked on the home

6. You do your final walkthrough

7. You attend closing

Tip: Your agent and attorney will guide you through every step. Stay in touch and ask questions—they're here to help!

Final Thoughts

The home buying process has a lot of moving parts, but getting clear answers to these common questions can make everything feel easier. Whether you're buying your first home or your fifth, the key is to ask questions early, work with a trusted team, and plan ahead.

If you’re thinking of buying and want answers tailored to your situation, I’d love to help.

📞 Call me at 917-254-2103
📋 Or get your Free Home Buying Guide here: https://bit.ly/45URvuV
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