Do You Factor In Property Taxes Before Buying A Home IN Charlotte, NC?

Today online we can do so much research before we go to look at a home. We can find a home and see what average rates are and calculate monthly payments. But when we do this are we factoring in what the property taxes are going to be in our monthly budget? Property taxes are going to be a part of the equation whether you factor them into your monthly payment or not. Moving here six years ago from Connecticut I was stunned at how low the property taxes were for a house in comparison to the Northeast. I figure i pay about 75% less here for my house in taxes than if I had the same house in the Northeast. But it was still a factor when I went to look at homes.... I had a budget in mind and that budget was what my wife and I were comfortable a month paying. In Charlotte, NC. area property taxes vary on the value of the house. Depending on your price point for a house it can be anywhere from $100 to $300 a month addition to what the principle and interest payment are on a house. It adds up fast.... When I have a client that says they are pre-qualified for X amount of dollars from their bank and want to look at certain homes i first ask them what are they looking at in terms of a monthly payment that they are comfortable with. What they want to comfortably afford a month may not be the same number as what they are approved for; because the property taxes are not factored into their equation. By knowing what a buyer in Charlotte, NC. wants to pay a month I can estimate if the payment fits the sale price of the house approximately and tell them they are okay or not. Consider that for every $10,000 on a price of a house affects your payment about $33.00 a month. Not adding in your property taxes can affect your buying ability by as much as $30,000 and up. That is a large swing in home values and can put you in different neighborhoods than you anticipated. When you are looking to get a home budget in your property taxes before putting an offer in....Your real Estate agent should be able to tell you what the seller paid last year for the house in property taxes. It can affect how much you offer for the house and whether you are comfortable buying the house or not.... Dave diCecco Realtor/Broker www.davedicecco.com