| One of the reasons that my husband and I do | | | | you buy a house, those things fall on you. |
| not own our own home yet is because of | | | | |
| property tax. Though we live in a really | | | | You might want to find out what your property |
| great area that has some of the best schools | | | | tax might be before you buy something. Though |
| in our state, the rate of tax is much higher | | | | this is a smart move, some dont do it, and |
| than almost anywhere in the country. We do | | | | they are shocked when they get their first |
| not live in an urban area, so this is | | | | tax bill. This can ruin the dream of home |
| somewhat of a mystery. We arent sure why it | | | | ownership for many. If yours are high like |
| is, but people here are paying more tax on | | | | mine are, you may not be able to get the |
| their property than they should be. Perhaps | | | | house you think you can afford. You may have |
| that is why we have such good schools, I | | | | to go with something smaller so you can have |
| really dont know, but I do know that is why | | | | a smaller monthly house payment. That might |
| we dont own just yet. | | | | be the only way you can afford your property |
| | | | tax. |
| Many people dont consider property tax when | | | | |
| they decide they can afford to buy their own | | | | If you cant pay your property tax, you should |
| home. They may think they can get a mortgage | | | | know that you could very easily lose your |
| that is equivalent to what they pay in rent. | | | | house this way. If you are having problems |
| That might very well be true, but you can not | | | | paying it, you have to talk to your bank. |
| forget about property tax when you are | | | | They may be able to extend you more of a loan |
| deciding if you can afford the mortgage or | | | | to cover it, but dont expect them to do that |
| not. There are many hidden things that come | | | | more than once or twice. Only do that if you |
| with home ownership, and that is just one. | | | | have an emergency, and remember that its not |
| You are also going to have to make your own | | | | free money, you still have to pay it back. In |
| repairs, and you are going to buy your own | | | | many cases, the bank wont help you with that, |
| appliances. These are things most landlords | | | | and you will be on your own. |
| take care of when you rent from them. When | | | | |