It’s important to consider rising property values when buying a home. Also, property tax rates vary from city to city and county to county. Many homeowners choose to roll their property taxes into monthly payments.Every month requires your lender to put money in escrow for property taxes in addition to your mortgage payment. If you don’t pay taxes through an escrow account, you’ll have to pay them in a lump sum.As your property increases in value over the years, your taxes will rise, increasing your monthly mortgage payment.Homeowners insurance is a form of insurance that insures your home in case of damage of any kind. While renters don’t need this insurance, your lender wants to know that homeowners can fix the home if something happens to it.