FAQs

Fast answers to common questions. For deeper detail, follow the topic links.

What are “closing costs”?

Closing costs are the one-time costs you pay to complete a purchase beyond the down payment (legal fees, title-related costs, tax adjustments, moving, inspections, and more). Start here: Closing costs.

How much should I budget for repairs and maintenance?

It depends on the age and condition of the property, but most owners should plan for ongoing maintenance and periodic major repairs. See Repairs & maintenance.

Can mortgage costs go up after I buy?

Yes. Payments can rise when rates rise (depending on your mortgage type), and your overall cost can change when taxes or insurance change. See Mortgage costs & rate changes.

Why do insurance claims get denied?

Many denials are due to exclusions (wear and tear, gradual damage, maintenance issues, or specific events not covered). See Insurance exclusions and Warranty denials.

What’s the biggest condo “surprise cost”?

Special assessments — unexpected lump-sum fees owners pay for major repairs when reserve funds are insufficient. See Condo fees & special assessments.

What are the costs when selling?

Typical costs include agent commissions, legal fees, repairs/staging, and moving costs. See Selling costs.