"I was looking into buying a house when Obama was offering the first time buyer's tax credit.There were a lot more expenses that I was not aware of. From talking to as many people as possible, here are a few cost considerations:
I'm not sure what area you are looking to buy in, but for me property taxes were a big consideration. Where I was looking, property tax is about 1.25 percent. I've spoken with different people abut this. You can make that payment two times a year, or do monthly payments. The monthly payment option is way more desirable, however you have to be able to make your payment for the first year in advance. Paying property tax, coupled with closing costs is a significant added expense in your down payment."