What are the hidden costs of buying a home?
An example of an AI chatbot conversation about hidden costs when purchasing a home.
What are the hidden costs of buying a home?
When buying a home, hidden costs can include closing costs, property taxes, maintenance, and insurance.
Can you explain what closing costs are?
Closing costs are fees associated with finalizing a real estate transaction, typically ranging from 2% to 5% of the loan amount.
What about property taxes? How do they work?
Property taxes are annual taxes based on the assessed value of your home, and they can vary significantly by location.
Are there any other costs I should be aware of?
Yes, don't forget about home inspections, repairs, and potential homeowner association fees.
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