Top Ten Facts To Know Before Becoming A New Home Buyer-Fact #6
Fact #6
Watch for those appraised values: A builder often gets his mortgage company to qualify you based on the assessed value of the unimproved property. When the property gets reassessed with the improvements of a home, the increase in taxes can place a tremendous financial strain on a budget based on a lower tax assessment.
A sound investment idea! Let us review property taxes in the neighborhood that have been reassessed with improvements and make sure you are comfortable with the house payment based on the future tax. In this way, you know your future obligations before you purchase.
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