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Old 07-26-2012, 12:10 PM
 
149 posts, read 172,122 times
Reputation: 111

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What can I expect for the following expenses on average for a $300,000 3 bed/2bath 2500 sq ft house with pool in the northern and western parts of the Tampa Bay area. Westchase, Lutz, Safety Harbor, etc?

Home owners insurance

Flood insurance

Umbrella insurance

Hurricane insurance

Sink hole insurance

Electricity

Property taxes

Plus how much for full coverage car insurance?

Last edited by CA2MA2NC; 07-26-2012 at 12:23 PM..
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Old 07-26-2012, 12:49 PM
 
Location: Toledo, OH
1,725 posts, read 3,126,145 times
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Property taxes is about 1.25%, but you get homestead exemptions. Hillsborough County (Westchase, Safety Harbor, most of Lutz is in this area), but I live in Pasco County so taxes area less. WATCH OUR FOR CDD FEES AND HOA FEES when buying. When you buy, I would look to see if there are sinkhole issues in that area. I mentioned this about two weeks ago, but we had sinkhole insurance right from the start. But they raise the price and it was (I believe) a 30,000 deductable! It is run through Citizens (by the State) and they wanted a significant increase this year. We cancelled it. Nobody in our area has sinkhole problems and if the house falls into a sinkhole your catestrophic insurance covers it.
We have a slightly larger home with 3 teenagers, the wife and I. Electricity has been running 400 plus in the Summer months (we also have a pool) and keep the temperature at 79, but about 200 in the Winter. We don't live in a flood area, so we don't have that nor do we have hurricane insurance. Auto insurance is HIGH!! We have two adults and two teenagers on our policy and it comes to 500 or so per month. We don't have a BMW or Lexus, we have two Hondas, a Ford, and a Sebring. Two fairly new - two fairly old.
Hope this gives you some idea. Shop around and see what deals you can get, but I know we spent a lot of time on the phone to get the prices that we have. Moderator cut: snip

Last edited by Keeper; 07-26-2012 at 02:37 PM.. Reason: soliciting
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Old 07-26-2012, 01:28 PM
 
2,727 posts, read 4,621,174 times
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Safety Harbor is not in Hillsborough County otherwise solid advise above by gulfer .

All this things you are asking depends on 1000 factors that what ever number we give you won't work but as a general guidance, tax I pay in Hills County is about 2% of assessed value AFTER the 50,000 exemption. This includes the non-advalorem such as street lights, sewage, reclaim water and so on. Not just property tax. so if you are my neighbor with 300K estimated (usually for tax purposes this value will be lower but on the conservative side), with 250K (after exemption) you would pay 4100/year. If you go to Pasco it would be cheaper. I wouldn't select a county to live based on taxes only though.

The rest of your question is very hard to give answer but I am just throwing number for fun.. Search the forum to get more accurate

Home owner insurance: Depends on the house and the insurer too (lots of parameters) for 300K house I would throw in some 2K to 4K

Car insurance?

If you can answer this I will give you an idea, LOL

1) Do you have any accident in the last 3 years?
2) In the last 5 years?
3) what type and model year is the car
4) What level of coverage you looking? Liability/Property/Personal/Compre/Collision?
5) What deduction are you looking?
6) is this your secondary or daily driver?
7) What is you average daily driving like?
8) How is your credit rating
9) will you buy multiple insurance?
10) Who are the primary drivers?
11)....and so on

Once I know this I think I can give some estimate,
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Old 07-26-2012, 01:57 PM
 
5,453 posts, read 8,185,332 times
Reputation: 2141
I agree with that "not buying a house based on property taxes"! Those can pale next to CDDs/HOA and general maintenance. Plus, the areas with higher taxes also have higher perks...so if you want the better schools then...you fork over more...if it doesn't matter then you fork over less, and so on.

We cannot give you straight answers to these questions, those need to be directed to online estimators from insurance companies, they give quotes for free all the time...We can speculate here until tomorrow and can be completely off.

BUT, A good way to see what the property taxes look like is to go to Trulia.com and type the zip code or city of interest and then scroll down and it gives you all that information and also what the house sold for in the past, how many times etc. See photo attached as an example of what the Trulia page looks like.
Attached Thumbnails
Tampa Bay Estimated Costs?-region-capture-2.png  
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Old 07-27-2012, 12:51 PM
 
4 posts, read 8,437 times
Reputation: 13
Quote:
Originally Posted by gulfer View Post
Nobody in our area has sinkhole problems and if the house falls into a sinkhole your catestrophic insurance covers it.
I'd be careful with that assumption, as it's a virtual certainty that your homeowners insurance would not cover a sinkhole loss absent specific sinkhole coverage.
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Old 07-27-2012, 03:25 PM
 
5,453 posts, read 8,185,332 times
Reputation: 2141
If homeowners insurance would cover sinkholes, then ppl would not have to buy sinkhole insurance. I would definitely be very careful with that.
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Old 07-27-2012, 04:52 PM
 
149 posts, read 172,122 times
Reputation: 111
Quote:
Originally Posted by MeInDenudinFL View Post
Safety Harbor is not in Hillsborough County otherwise solid advise above by gulfer .

All this things you are asking depends on 1000 factors that what ever number we give you won't work but as a general guidance, tax I pay in Hills County is about 2% of assessed value AFTER the 50,000 exemption. This includes the non-advalorem such as street lights, sewage, reclaim water and so on. Not just property tax. so if you are my neighbor with 300K estimated (usually for tax purposes this value will be lower but on the conservative side), with 250K (after exemption) you would pay 4100/year. If you go to Pasco it would be cheaper. I wouldn't select a county to live based on taxes only though.

The rest of your question is very hard to give answer but I am just throwing number for fun.. Search the forum to get more accurate

Home owner insurance: Depends on the house and the insurer too (lots of parameters) for 300K house I would throw in some 2K to 4K

Car insurance?

If you can answer this I will give you an idea, LOL

1) Do you have any accident in the last 3 years?
2) In the last 5 years?
3) what type and model year is the car
4) What level of coverage you looking? Liability/Property/Personal/Compre/Collision?
5) What deduction are you looking?
6) is this your secondary or daily driver?
7) What is you average daily driving like?
8) How is your credit rating
9) will you buy multiple insurance?
10) Who are the primary drivers?
11)....and so on

Once I know this I think I can give some estimate,
No accidents
2012 Chrysler Town and Country
Full coverage $300,000
$1,000 deductible
Primary driver
Estimate 20 mile commute from suburbs into Tampa
805 credit rating
Will keep $1,000,000 umbrella insurance
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Old 07-27-2012, 06:37 PM
 
Location: Tampa Bay`·.¸¸ ><((((º>.·´¯`·><((((º>
4,554 posts, read 6,905,472 times
Reputation: 13522
Closing this thread for review.
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