8. Consider Property Taxes When Buying a Home
When buying a new home, consider the property tax rate in that area. Property tax rates can vary significantly between states and even neighboring cities.
What to Do: Research the property tax rates in areas you are considering moving to. For instance, Hawaii has one of the lowest property tax rates in the U.S., while New Jersey has one of the highest.
Action: A home buyer should include the cost of property taxes in their calculations; relocating to an area with lower property taxes could mean cost savings.
Thank you for reading this post, don't forget to subscribe!
