Want to Buy a Single-Family Home without High Property Taxes? 3 Things to Look for in a Property
Although you might love where you live and own a home, you can certainly fall in love with multiple places. Buying a second home makes it possible to live in two places throughout the year. But, you might be scared at the prospect of paying high property taxes on a home that you only live in part-time. While these taxes are inevitable, you can look at certain things with single-family homes to keep the costs down. Here are a few things to look for in a property you’re considering for a second home.
Potential Fixes without a Permit
A fixer-upper is perfectly fine, you just want to make sure none of the work requires a permit. Each state has its own requirements as for what needs a permit, so check out the specifics for New York. Things like painting, replacing appliances, changing hardware, and getting new cabinets should not need them
Curb Appeal That Needs Help
When a home is assessed, a wide range of aspects considered to come up with its taxable value. A decent curb appeal will not get valued as high as one that has a landscape with impeccable strategy and execution. This will likely lead to a lower property tax assessment and you get to enjoy lower taxes.
Far Away from Schools
A large portion of public school funding comes from property taxes. For a second home, you know that your children will not be going to school there, so it makes sense to avoid areas with lots of schools. If you like several neighborhoods with a similar proportion of schools nearby, you can take a look at the property tax rates for each area to determine which locality will provide you with greater savings.
It is possible to buy a lovely home that is affordable when it comes to property taxes, you just need to get a little creative by prioritizing certain features and qualities that can affect how much you pay.
Feel free to contact us if you have any questions about buying a second home.