My lender casually said something that flipped my whole budget plan

My loan officer over coffee last Saturday mentioned I should prep for taxes jumping 40% after year one because of reassessment, and now I'm second guessing every house under $320k I've toured in Austin, has anyone else had to rework their max price after hearing that?

2 comments

2 Comments

oliver_baker4910d ago

Wait, is this the first time anyone's actually told you the real number instead of just the monthly estimate? That tax reassessment thing is like the hidden fee of home buying, it hits everyone but nobody talks about it at the open house. I've watched three friends in Texas get blindsided by the same jump, one of them had to pick up a side gig just to cover the difference. Honestly, you're smart to rework the budget now, better to eat the disappointment of a smaller house today than the stress of a bigger payment next year.

parker_hall510d ago

Honestly, some of that tax jump is just y'all forgetting about the homestead exemption.