When house hunting, remember to pay close attention to what you will be paying in property taxes. If you have a budget of $1,000 for a monthly mortgage payment, property taxes could quickly turn that $1,000 into $1,400! It pays to do your homework when searching for a new home. Since schools are one of the major consideration when relocating, don't let it put you in the poor house.
Great school districts come with considerably higher property taxes. While this is not a hard, fast rule everywhere, it is typical in many areas of the country. Parents desire what they consider to be better schools and are willing to pay the price. What is the price?
Imagine a high mortgage payment and having to get at least one part-time job in addition to your 8 to5. This means a lot less time at home. Instead, consider supplementing your child's education by spending time involved in what they are learning. There are many online sources for educational activities you can do together.
Paying high property taxes can result in less time enjoying your investment and, more importantly, your family. Investing in your children's education by personal involvement will reap benefits for years to come.