Appreciation post: that open house in Glenora last fall made me rethink my whole budget

I was looking at a cute little bungalow listed at $550k, thinking it was totally doable. The realtor casually mentioned the property taxes were over $6k a year, which I hadn't even factored in. It was a real wake-up call about the true cost of owning a home here. Now I add a 20% buffer to every listing price I see. Anyone else get caught off guard by the extra costs in certain neighborhoods?

2 comments

2 Comments

the_charles1mo ago

What if you just see that tax as buying into a better area, cole_davis47?

cole_davis471mo ago

That property tax wake-up call is so real. I see it all the time where the sticker price looks okay but the monthly carrying costs are a killer. It's the hidden math that makes or breaks a budget.