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Old 08-27-2006, 04:48 AM
 
Location: FL
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like other states? What kind of insurance does one need? Like in FL, we need regular insurance to cover the wind from hurricanes, and then flooding, and it's so pricey because we really really need it.
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Old 08-27-2006, 07:21 AM
 
Location: Beautiful East TN!!
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I am in the mortgage industry, all lenders require for insurance in this area (East TN specific) is homeowners insurance, which compared to Fl is nothing. example: for a 1500sq ft house, valued at 115K 3/4 acre average insurance is about $610 a year. Flood insurance is required only on lake property and even then, sometimes not. Property taxes are almost nothing in comparison also. If you live in any city limits, you do have city and county taxes, but if you live in county only, it is VERY cheap. The tax rate in East TN goes anywhere from $1.20 per unit to $2.60 a unit. The above scenario of house would be about $200 a YEAR in Greene county, and about $500 a year in Washington County (Tri-Cities area) and about $750 in Knox County. ( these are estimates of course) But you can see about how it works, you can find lower and higher taxes rates in these areas, this is just an example.
Hope that helps!
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