Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I know this has been ask numerous times and am sorry if I'm doing it again but am thinking about buying a new home in the Raleigh/Brier Creek area and my question is:
Besides the actual house payment, what other payments are there? I.E. Property, School....
and what are their percentage.
I know that I can afford a house payment with ease but don't know about the other taxes/fees.
Sorry for asking but this would be my first house so I'm new at this.
Some items, and they will vary based on what you buy, and the home price.:
You will pay just under 1% of the Tax Assessment Value in property taxes annually. The Assessed Value could be higher or lower than your purchase price, usually within about 5% range. School tax is part of your property tax bill, so there is no additional school tax.
In that area, you will probably pay HOA dues, and that can vary from $40/month for a detached home to much higher if you purchase a townhome with exterior building and grounds maintenance provided as part of your fee.
Somewhere from $500-$1000/year for a homeowners insurance policy for fire, natural disaster, personal liability, coverage of personal property, etc.
And, of course you will need to set aside funds for maintenance and repairs for the home.
And, of course you will need to set aside funds for maintenance and repairs for the home.
Lawnmower (or yard service), basic tools if you don't already have them, plants, garden hose, flowers, flower pots, deck furniture, grill, etc. I saw on another thread there may be a ladder you can get.
If you are talking about buying new construction in this area, remember that the onsite agent works for the builder/seller.
Since you are new at this, you should find a buyer's agent that will work for you. There is no charge to you.
I'd also recommend you contact a lender to determine what amount you qualify for and to explain the total payment that you will have: principal, interest, taxes, insurance plus HOA fees.
I could tell you a lot of stories about problems with "on site" agents. Make certain to get your own!!!!
I bet my stories would beat your stories!!!
Vicki
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
