Buying a New Construction Home and what to know about your Taxes
By David Krichmar, DaveYourMortgageGuy.com
(www.DaveYourMortgageGuy.com - Legend Lending)
Buying a newly built home is an awesome experience. You can pick out colors, fixtures, finishes, floorings and the list goes on. But there is one major thing you must be pay attention to and that is the real estate taxes of the home. Here are a couple things you MUST know about the taxes for your new home: 1. What are the current taxes?- Many times when a home is newly built the taxes are only based on the land. This amount is much less than what your taxes will be once the home is appraised by the county. 2. What will your taxes eventually be?- You also must know what the taxes will be once the county appraises the home. This can usually be estimated by the sales price times the tax rate. This will not give you exact amount, but will give you a pretty good idea. 3....
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