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The Water Cooler
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First time homebuyer?
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<blockquote data-quote="NikatKimber" data-source="post: 2774575" data-attributes="member: 423"><p>Things to keep in mind, coming from a recent first time home owner:</p><p></p><p>1- Insurance, get quotes, and expect and budget for it increasing.</p><p></p><p>2- Property tax. If it hasn't sold recently, then the tax value may not reflect current value. What we learned was that if the house is sold, they can raise immediately the tax amount to reflect current value. So the amount that was paid last year may be dramatically lower than what you will have to pay. Ours went up 50% the first year.</p><p></p><p>3- Inspection. Like defnestor said, get a good one. Ours missed some stuff; fortunately we had gotten a good enough deal that that didn't put us upside down on it, but it still added to what we expected to have to do on the house.</p></blockquote><p></p>
[QUOTE="NikatKimber, post: 2774575, member: 423"] Things to keep in mind, coming from a recent first time home owner: 1- Insurance, get quotes, and expect and budget for it increasing. 2- Property tax. If it hasn't sold recently, then the tax value may not reflect current value. What we learned was that if the house is sold, they can raise immediately the tax amount to reflect current value. So the amount that was paid last year may be dramatically lower than what you will have to pay. Ours went up 50% the first year. 3- Inspection. Like defnestor said, get a good one. Ours missed some stuff; fortunately we had gotten a good enough deal that that didn't put us upside down on it, but it still added to what we expected to have to do on the house. [/QUOTE]
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