Soaring prices for homeowners insurance, property taxes and utility bills are adding thousands of dollars to the cost of owning a home. The increases come at a time of record-high real estate prices and elevated mortgages and closing fees....
Some of the additional costs home buyers need to think about besides the mortgage are property taxes,HOA feesif there is a homeowners association,home insurance, and of course, closing costs. 9. Does your credit score go up after buying a home for the first time? If you continue to follow...
Still, Massachusetts home buyers shouldn’t be caught off guard by property tax increases, which can add even more financial stress to homeownership. “Over time, property taxes have inched up, but I think it’s really about how the counties and the state manage their financials,” saidEllen...
Many other costs come up besides the mortgage payment. For example, you may need to payhomeowners association fees. You might need to pay private mortgage insurance depending on your down payment. Property taxes are another fee that can be pretty substantial in specific areas. Here are someaddit...
Deductible: The higher a driver’s deductible is, the cheaper their car insurance is. But, this means they’ll pay more out of pocket after an accident. *Car insurance companies in California, Hawaii, Massachusetts and Michigan can’t use credit scores to set premiums. ...
There are many misconceptions about homeowners associations (HOAs) in media and pop culture, which may inadvertently drive people away from buying a home in an HOA neighborhood that they might’ve otherwise loved living in. There are certainly some disadvantages to HOAs, but the downsides aren’t...
(66%) knew that a person’s credit scores affect the cost of their auto insurance. In fact, having a poor credit score can have more impact on a driver's auto insurance rate than having a DUI does. Four states —...
1. Consider your budget.How much can you afford to spend? Home buying is much more than just a mortgage payment, so you’ll want to consider all the potential costs, including property taxes, homeowners insurance, closing costs, private mortgage insurance (if your down payment is less than ...
4. If your investment property is part of a Homeowners Association, the fees you pay to the HOA for community services, landscaping, and maintenance are tax deductible. 5. Property owners who contract with a property manager to handle the day-to-day management of their rental units can deduct...