Taxes/Home Owners (Orlando, Seminole: credit rating, appraiser, hoa)

[jojo1617]

Can someone give me an idea what home owners and taxes would be like in the Orlando (or surrounding) areas?

1800sq ft
3-4 bd/ 2 bath

[GregTraub]

That will depend from property to property. Taxes are assessed by what the property appraisers office value's your property. An 1800 Sq ft house could be worth 1million to 100K around Central Florida.

Same goes with HOA dues. Some communities will not have any HOA, some will have large dues. Single family homes usually having the lowest dues, with townhomes and condo's havng the highest.

[dk22]

I believe on the Orange County Property Appraiser's website there's an estimator there that can help you out. If you're in Seminole County, they should have the same thing there as well. It's base on the county's appraised value. That's the best place to look.

[cmj_fla]

A real rough estimate for a home that size would be around $1000 for homeowner's insurance but this depends on the age of the home. It can be much lower if you have a Hip Roof - a four sided roof.

[jojo1617]

I was thinking of a price of $170k, does that help. I'd be happy to get an idea of any area in or around Orlando.

[pianogal]

Originally Posted by jojo1617

I was thinking of a price of $170k, does that help. I'd be happy to get an idea of any area in or around Orlando.

On that amount I would plan for around 3K for taxes.

HOI (insurance) could vary alot depending on many factors, age of home, type of roof etc. - even your credit rating. We have a 3200 square foot home built since 2004. That's when the new hurricane code went into affect - our insurance agent told us the last time we spoke with him, that some companies were not even writing policies for homes built before 2004. We paid around 1200 last year, but have gotten bids for around 600-700 so we're thinking about changing companies.

To be safe you should plan for at least 1000-1500. Depending on the home, it could be alot cheaper.

[bdpop]

Originally Posted by pianogal

On that amount I would plan for around 3K for taxes.

HOI (insurance) could vary alot depending on many factors, age of home, type of roof etc. - even your credit rating. We have a 3200 square foot home built since 2004. That's when the new hurricane code went into affect - our insurance agent told us the last time we spoke with him, that some companies were not even writing policies for homes built before 2004. We paid around 1200 last year, but have gotten bids for around 600-700 so we're thinking about changing companies.

To be safe you should plan for at least 1000-1500. Depending on the home, it could be alot cheaper.

Why does your credit rating have anything to do with the risk of insuring your home. So if you're late in paying your credit cards, you can expect more damage during a fire, hurricane, etc? That is just ridiculous and just another way for the insurance companies to gouge us.

[AONE]

The only reason a home in the greater Orlando area will command a price above $1Million while providing only 1800 sq ft of living will be because it sits on Lake Down, or has a large parcel or both. The majority of homes this size will fall in the 150-275K range with well over 500 available.
A guy I use for insurance would fall from 600-800 in most cases. The taxes will vary the first year due to the previous purchase price but the following year it will be based off of your price ( assuming no short sale) in general that year you can expect taxes to fall from 1800-3000 depending on area and features. Remember if you buy a brand new home the current taxes are abnormally low because they are based on the land value. If a reappraisal occurs it will reflect a tax based on the sales price.

[pianogal]

Originally Posted by bdpop

Why does your credit rating have anything to do with the risk of insuring your home. So if you're late in paying your credit cards, you can expect more damage during a fire, hurricane, etc? That is just ridiculous and just another way for the insurance companies to gouge us.

I have no idea that was just what I was told by my insurer.

[cmj_fla]

Originally Posted by bdpop

Why does your credit rating have anything to do with the risk of insuring your home. So if you're late in paying your credit cards, you can expect more damage during a fire, hurricane, etc? That is just ridiculous and just another way for the insurance companies to gouge us.

Most insurance companies believe that there is a direct relationship between a consumer's payment history and/or financial dependability and insurance losses. They believe a person that can not pay their bills on time will be more likely to file a claim, therefore, they charge a higher premium. I don't necessarily agree with this but I am sure they have research to back this up????


For the OP, I suggest getting quotes from several different homeowner's companies because every company uses different measures in determining premium prices and you can find huge differences in prices on the same property because of this.