06/11/2026
Let's talk about what it actually costs to buy a home around here.
Say you're buying at $315,000 — about the average in our market.
First, your down payment. This is where everyone gets it wrong. If you're a veteran? $0. Zero down with a VA loan. FHA? 3.5%, so about $11,025. Conventional? Anywhere from $15,750 at 5% down up to $63,000 if you put down the full 20% everyone thinks they need.
Then there's the stuff nobody warns you about — figure $4,000 to $6,000 in closing costs. Attorney fees (yep, New York makes you have one), title work, recording the deed and mortgage insurance, your appraisal. It shows up on every single deal, so plan for it from day one.
Taxes — here in New York you'll usually pay them prorated to your closing date, or sometimes pre-fund the first full year into escrow. Depending on when and where you close, that can be a few thousand more. This is the one that catches people off guard.
And the buyer agency fee — usually 2.5% to 5%. Here's what most people don't know: it's negotiable, and a lot of the time the the seller offers to cover this, but not always.
So same house, three totally different checks at the closing table. A VA buyer might walk in with $5,000 or $6,000 plus taxes. FHA, somewhere around $16,000. Conventional with 5% down, closer to $20,000.
I sat across from a veteran last month who'd been renting for six years because he thought he needed $60,000 saved up. His real number? Under $10,000. Nobody had ever just shown him the math.
So if you're even thinking about buying in the next year, comment "MATH" and I'll run your exact cost to close. Your loan type, your price point, your timeline. No pressure, no pitch. Just your number.
