Real Estate Expert Urges Immigrant Homebuyers to Weigh Risks and Long-Term Costs

Nepali homebuyers in the United States must weigh not only potential profits but also the risks and long-term financial commitments involved in real estate, according to New York–based broker and investor Chhepak Gurung.

Gurung, who has been active in New York’s real estate sector for nearly two decades, said many buyers—especially first-time homeowners—tend to focus on rising property values without fully understanding the underlying financial obligations.

“People often see a house purchased for $500,000 later valued at $1 million and assume the profit has doubled,” Gurung said in an interview. “But for someone who made a 20 percent down payment, that return is effectively five times. Still, that doesn’t mean the investment is risk-free.”

Long experience in the field

Gurung began his real estate career in 2007 with Exit Realty and spent more than 15 years working with RE/MAX, gaining experience representing a wide range of buyers and sellers. He is currently affiliated with a brokerage firm while preparing to fully launch his own company, TD3 Realty.

Over the years, he said he has witnessed significant changes in both the broader market and the growing Nepali community in New York. “When I started, the Nepali community here was much smaller, and there were fewer mentors or resources available,” he said.

Despite briefly considering leaving the profession twice—around 2015–16 and just before the COVID-19 pandemic—Gurung said he remained committed to real estate and is now working toward expanding his business model. His future plans include establishing boutique brokerage firms in both New York and Kathmandu.

Early challenges as an immigrant

Gurung said language barriers and cultural differences were among the biggest challenges when he first entered the industry as an immigrant. Working with clients from diverse backgrounds required adaptability and persistence, he added.

His affiliation with established firms such as RE/MAX helped him build industry knowledge and professional networks.

Investor mindset and risks

In addition to being a broker, Gurung is also an active real estate investor. He said his personal inclination leans more toward investment, though he cautioned that it requires significant capital and risk tolerance.

“Real estate is not something you can enter without investment,” he said, pushing back against the notion that it is an easy or low-cost pathway to wealth.

Between 2019 and 2023, Gurung was involved in “buy, fix, and flip” projects. He is now developing a dedicated investment platform through Noryang Capital Group.

Advice for homebuyers

Gurung emphasized that prospective buyers should carefully evaluate their financial readiness before purchasing a home, noting that many people overlook the full scope of costs involved. He said buyers need to ask themselves whether they are truly qualified to purchase, whether their job and income are stable, and whether they can sustain long-term financial obligations.

Beyond the monthly mortgage, he stressed the importance of accounting for property taxes, insurance, utilities, and maintenance expenses.

“I make sure my clients understand not just principal and interest, but the full financial picture—including water bills and repair costs—so they don’t regret their decision later,” he said.

Outlook for Nepali community

Gurung expressed optimism about the Nepali community’s engagement in real estate, noting that a strong culture of saving has contributed to high rates of homeownership.

“In the U.S., real estate remains one of the most reliable long-term ways to build wealth,” he said.

Interest in Nepal market

Gurung also showed interest in Nepal’s real estate sector, though he acknowledged challenges in understanding its high pricing structure. He sees a need for more organized brokerage systems in Nepal and hopes to bridge his New York experience with Kathmandu’s market in the future.