What's not to love about new construction? I'll tell you what.... SSA TAXES!
What are they and why do I care?
SSA stands for "Special Service Area". When a builder starts a subdivision they of course build new homes, put in sidewalks, streetlights, streets, etc. Now who pays for all of this? YOU DO!
On top of your real estate taxes, there may be "SSA Taxes".
If you decide to be unrepresented by a realtor when you buy new construction, it is imperative that you ask the builder about the taxes. It is also just as important to have an attorney look over the contract to make sure this area is covered BEFORE you sign. I have met many people who have overlooked this and now are paying thousands of dollars in taxes, and they have no recourse.
The builder may say to you there is a "dormant" SSA tax". Dormant means that you don't have any now, but in the future you may be taxed if certain conditions occur.
The best way to make sure there are no surprises when buying new construction is to be represented by a realtor. That's what we're here for!
Call me anytime at 630-479-4673 or visit www.idamccarthy.com
Always looking out for my clients!
(photo courtesy of ppdigital)
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