Buyer

Start with monthly payment comfort, not purchase price.  Back into your price using your target “all-in” payment (mortgage + taxes + insurance + PMI).  If you can’t explain the math in 60 seconds, you don’t understand your budget yet.  We have amazing mortgage professionals that we can recommend.  Check out our Services page => Mortgage Professionals 

Typical contract to close is often - 45-60 days, but your real timeline is search time + negotiation + mortgage process + inspection / appraisal + title

You’re really asking two questions: (1) can you afford the payment now? and (2) will waiting materially improve your options?  Without a side-by-side scenario comparison—buying now versus waiting 12 months—any decision is based on guesswork rather than data.  Also, keep this in mind - timing the real estate market is guessing, scenario planning is strategy.

Most NY buyers use an attorney because contracts / closing are attorney driven.  The cost is relatively small compared to the potential risk.

An inspection is for YOU, the buyer, to both assess the property for major defects that may lead to negotiation and to educate yourself on the property you are buying.  An appraisal is for the lender to support the value of the home and determine any repairs the lender may require.  Bear in mind the buyer typically still pays for the appraisal even though it is for the lender.