Property taxes are often a major factor that is overlooked when buying your first house. In comparison to several economic factors such as interest rates and home prices, property taxes are within your control. By control, I mean the location where you choose to buy a house. Different counties and even townships in the same state will have varying mileage rates, which directly impact the amount of your property taxes.
If the difference of a few hundred dollars a month is the determining factor between owning a home and not, you may want to consider expanding your search radius around the town you wish to live in. As mentioned in the video, if you want to live near or in Ann Arbor in Washtenaw County, your property taxes could be close to $420 per month. However, driving just 15 minutes north into Livingston County, a house with the same estimated value would have property taxes of only $220 per month. This strategy can be highly effective when looking for your first house.
Many of my clients have discovered that by expanding their search radius around their desired location, they were able to find more affordable houses, with property taxes being one of the primary factors making the difference.is overlooked when buying your first house. In comparison to several economic factors such as interest rates and home prices, property taxes are within your control. By control, I mean the location where you choose to buy a house. Differe2302683 Member FDIC | Equal Housing Lender