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Propertytaxes. Expect to pay propertytaxes to local and county governments each year. Your local government will assess the market value of your property at its "highest and best use" and charge you a percentage of that value every year. Other tax deductions. Advertising fees.
You’ll also need to factor in ongoing costs like propertytaxes, homeowners insurance, applicable HOA fees and maintenance. Unexpected Expenses: Budget for possible repairs, inspections or legalfees that might arise during either transaction. turn your home into a rental property)?
Expense Projections : Operating costs like propertytaxes, insurance, utilities, maintenance, and management fees are then subtracted to derive Net Operating Income (NOI). For example, propertytaxes might rise after a sale, or insurance premiums could spike in areas prone to natural disasters.
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