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Anna S. Terry
+19197308789  |   Keller Williams Elite Realty

US Home Prices Are Falling: Is It A Good Time To Buy Property?

You will need to put up 20% of the cost as down payment for a home purchase, in addition to closing costs which is 3-6% of the total loan, and inspection expenses. If you happen to purchase a house, townhouse, apartment, or condominium that is part of a homeowner's association, you are obliged to pay HOA fees to cover the costs of amenities (security system, gym, pool, or clubhouse) and upkeep of common areas such as lighting, sewage, or lawn services. Furthermore, a portion of the HOA fees may be put aside as reserve funds that can be used for emergencies or unexpected situations such as replacement of broken windows or equipment in common areas.

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