Staging presents your home in the best light. Staging can help position your home to sell faster and potentially for a higher price. But there are a couple of ket points to remember when staging:
Property Taxes Can Impact Your Mortgage Payment
Dated: April 14 2021
When buying a home, taxes are one of the expenses that can make a significant difference in your monthly payment. Do you know how much you might pay for property taxes in your state or local area?
When applying for a mortgage, you'll see one of two acronyms in your paperwork, P&I or PITI, depending on if you are including your taxes in your mortgage payment.
P&I stands for Principal and Interest, and both are parts of your monthly mortgage payment that go toward paying off the loan you borrow. PITI stands for Principal, Interest, Taxes, and Insurance. Taxes and Insurance can be included in your payment, although sometimes you can elect to pay those items directly. Either way, they are all important factors to calculate when you want to determine your new home's cost.
According to TaxRates.org, property taxes are: "A municipal tax levied by counties, cities, or special tax districts on most types of real estate - including homes, businesses, and parcels of land. The amount of property tax owed depends on the appraised fair market value of the property, as determined by the property tax assessor."
Yavapai County Tax
We are fortunate in Yavapai County to have a user-friendly online system to look up the property taxes for individual properties. If you are considering a house and want to look up the amount of past property tax, enter the property's address on the Yavapai County Interactive Map. http://gis.yavapai.us/v4/ Once you have the address displayed, you can select 'Taxes' from the right-hand column and view the taxes for the past five years. The Yavapai GIS System also shows assessed values and the number of previous sales.
Click here for a "Property Tax Calculator" by Smart Asset.
When you are considering a home, it is helpful to note that as payments are made, the P & I portion of your loan will decrease over time. The amount of your Insurance premium and Property Taxes will not. Paying attention to the amount of taxes is good due diligence to ensure you know what financial obligations lie ahead.
If you are ready to take the next step and run some numbers on your next home, give me a call at 928-710-9148. I would be happy to walk you through the process and help you understand the big picture of buying a home.