Looking for a "deal" in an affluent neighborhood?

If so, make sure you pay attention to the taxes on the property. I've come across so many properties that have a low asking price, but the taxes are still what they were when the property sold for much more, making an affordable home, no longer affordable! You may be able to have the tax rate adjusted after the sale, but don't count on if or when that might happen. Taxes in some areas can add another $1,000 a month or more to your mortgage payment!