05/05/2026
When purchasing a home, always consider that taxes and insurance will likely increase. Don't just max out your pre-approval limit. Only you know how much you spend, and how much you can comfortably afford to pay monthly for housing. Make sure you know how much your monthly PITI Principal, Interest, Taxes, and Insurance) payments will be, and find out if your taxes will increase after you purchase the home. Once you buy the property, its value will be reassessed and the taxes updated accordingly. If you leave yourself no room, you'll be stressed out when your PITI payment increases.
The responsible thing to do is to take this into consideration before you buy. However, if you find yourself in that situation, and can't make the monthly payments, don't overthink it. Sell the house. Think fast, so you can walk away with your credit in tact and relocate. Don't be ashamed to downsize. Make life easier for yourself. Reach out if I can be of assistance. I am a relocation professional. We'll work on getting you pre-approved for a Bridge Loan and find you something more commensurate to your budget, where you'll still be comfortable. If you're currently struggling to pay a monthly payment that just recently increased, I'm here to help. Call me ASAP!
📲(248)891-3876 or visit
https://jwhitepropertysale.com
for a free valuation to get an idea of what you can expect to sell your property for, and to search for what's currently available on the market.
James White Sr, Realtor, Seller's Representative Specialist
Foreclosure filings hit nearly 119,000 in the first quarter of 2025, a 26% increase from last year, as homeowners face rising insurance and property tax burdens.
