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Old 05-14-2007, 12:56 PM
 
56 posts, read 148,791 times
Reputation: 13

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I've read a lot of people saying how high these costs are, but not really any figures.

Although I've just seen a post saying they pay $350 a month for a $240k house for tax and insurance. Now, is tax pretty much council tax, as it is here in the U.K? And what is the insurance? House insurance?

That, to me, seems quite cheap!

Working it out, if we bought a house for $150k, then the tax and insurance would be $218 a month, which is not much more than 100. We pay more than that JUST for council tax here.

I'm wondering if people are saying it's expensive compared to other states, rather than the U.K?

Or are there hidden costs?

What would the taxes and insurance be on a $175k house in Florida for eg.

Thanks in advance for your help.
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Old 05-14-2007, 01:00 PM
 
56 posts, read 148,791 times
Reputation: 13
Sorry, posted in the wrong section. Now in Florida, with a bit added. lol
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Old 05-16-2007, 10:08 PM
 
Location: Florida
126 posts, read 497,483 times
Reputation: 96
Quote:
Originally Posted by madmumof2 View Post
What would the taxes and insurance be on a $175k house in Florida for eg.
Not sure you'd get anything for $175k. For a nice single family home in a decent area you're probably looking at $250k upwards.
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Old 05-27-2007, 09:13 AM
 
8 posts, read 19,564 times
Reputation: 10
Quote:
Originally Posted by madmumof2 View Post
I've read a lot of people saying how high these costs are, but not really any figures.

Although I've just seen a post saying they pay $350 a month for a $240k house for tax and insurance. Now, is tax pretty much council tax, as it is here in the U.K? And what is the insurance? House insurance?

That, to me, seems quite cheap!

Working it out, if we bought a house for $150k, then the tax and insurance would be $218 a month, which is not much more than 100. We pay more than that JUST for council tax here.

I'm wondering if people are saying it's expensive compared to other states, rather than the U.K?

Or are there hidden costs?

What would the taxes and insurance be on a $175k house in Florida for eg.

Thanks in advance for your help.
Are you a permanent resident or citizen. If you are either of these then you of course will benefit from homestead exemption. If not, i.e. you are buying an investment property, property taxes (yes very similar to council tax) are subject to pretty substantial annual increases. for a $500K house 18 months ago the Property Tax was $3000, the following year, $5500 and next year I expect it to be about $8000.

For a $175K house of course it will be much cheaper. As for insurance, it is a nightmare. I jumped from $800 to $2500 this year but for last year and this, the insurance companies insured me for 1 year then canceled my policy. Two different companies and I have not had any claims.

If you want a better idea, look at the web site for the tax appraiser in the county you wish to buy. All of them have web sites with details of everything you might want to know. You can see what the tax rates are and if you want you can even look up the taxable values for the property.

Other costs to be aware of are if you intended to buy where there is a homeowners association. The association fees can be very high and what you get for them varies. I have a friend with a $250K house in a homeowners association and he pays $400 a month in fees. He does get basic cable TV for this but that is only worth about $50.
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