[VIDEO] Property Taxes VS Mortgage Amortization

This is the first of many videos i will be posting.  Enjoy it.

This is 2016 and it’s a brand new day.  In this series, I share tips.  On today’s episode, we are touching on property taxes.

So i am in the middle of looking for a home for someone in Sayreville. The average property taxes are some between $5,000 to $6,000 per year.

There was this particular nice house.  Most of the houses in Sayreville are ok; pretty big and nice house.  Generally speaking bigger properties have bigger taxes.

From what it looked like, this house was a $400,000 being sold for $300,000.  Looking at this on face value that is a good deal right?  You get to save $100,000.

But it’s not that simple.  The property tax on this home is about $9,000 per year which is about 80% more than the average home in that area.

So which one is a better deal?  Save $4,000 per year or save $100,000 on the mortgage loan amount needed.  Watch the video for my insight on the matter.

See you next week.