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Once you focus on these criteria, you will have a better understanding of where you want to begin your commercial property search. Propertytaxes in the area. Local amenities. Average prices of comparable commercial rental properties available in the area. Quality of the neighborhood. Quality of the schools.
More below) Standard 20% down: $200,000 for a $1,000,000 house This brings us to an “average” monthly mortgage payment of $5,800 with propertytaxes and homeowners insurance factored in. Remember that propertytaxes on a $1 million house can be much higher than average.
In addition to a monthly payment that’s more than the principal and interest on your mortgage, you’ll also have propertytaxes, homeowners insurance and (in many cases) mortgage insurance as well as homeowners association fees. The post Rent Vs. Buy: How To Decide In 5 Steps appeared first on Zing Blog by Quicken Loans.
For instance, you may want to share the commercial appraisal with the seller, your lender, and perhaps your localpropertytax appeal board. Question 10: What do commercial appraisers look for when determining a property’s value?
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