Location can be a key factor that influences your mortgage payments! 

by | Jan 10, 2024 | Client Resources

You have probably heard that old saying: Location, Location, Location. Well, where you choose to buy your house, can significantly affect your expenses. How? It’s all about property taxes, property value, insurance costs, and PIDs. Don’t worry if you are not sure what some of those terms mean. We are going to break them down and see how they affect your mortgage.

Image of small scale house on a table sitting next to a set of keys

Property Taxes

Local governments levy these taxes based on your home’s assessed value. The tax rate varies from neighborhood to neighborhood, impacting your monthly mortgage payments.

Property Values

Homes in high-demand areas, higher-demand schools, with popular nearby amenities will likely have higher prices than homes on the city outskirts, which in turn could affect your mortgage amount and payments.

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Insurance Costs

Living in a flood or tornado-prone area?   Expect to pay higher insurance premiums. These additional costs will add up and be factored into your mortgage payments.


Some neighborhoods may have Public Improvement District taxes to pay for community enhancements like road construction, water distribution systems, wastewater collection, landscaping, city parks, recreational opportunities, and more. PIDs are not included in property tax amounts; they’re paid in addition to any county-assessed real estate taxes.

Image of a four way roundabout in a neighborhood from the sky

Location, Location, Location

Choose location wisely and be sure to do your due diligence.  Your dream home’s location could make all the difference!   

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