Huge homeowner's insurance increases

[Curious Hound]

... and why is my bill different EVERY MONTH? Up a couple bux, down a few bux, back up a few cents. WTF?!?

 

[scotts90ranger]

Mine has been increasing yearly as well. Mostly due to insurance premium increases than taxes. Being that I have a 15 year mortgage, the payments are kind of high. So, any increase in what I have to pay is not appreciated.

Yeah, I refinanced to a 15 year in '22, it's higher than I expected, they were telling me like $400/mo increase but then taxes and insurance went up so now it's like $550 more than it used to be... with the inflation that started right about then real hard it hurts a bit but doable... didn't help that the shop is now finished and likely raised the appraised value that the county just did a few months ago... I think it's FHA loans or USDA or something that has the insurance and taxes combined, I don't remember but don't mind... one year I got an escrow refund somehow, might have had to do with a refi...

My auto insurance went up about $100/6 months so it's like $1050 twice a year (saves like $600/year vs month to month I think) for 6 rigs and 2 drivers...

 

[Roert42]

I have my insurance and taxes paid through the mortgage, just a standard 30 year through a credit union. They take the money in escrow , pay out the insurance and tax, then we settle up the difference at the end of the year.

Property is insanely expensive around here. I’m in a sweet spot for people that commute to various cities, but don’t live in a rural/ suburban area. From my county, With in an hour you can hour you can be downtown in 6 major cites, including NewYork and Philadelphia. Not that much longer to get to DC.

Lot of carpet baggers paying $600,000 or a $200,000 house because it’s so much cheaper then living in the city. Then the taxes go up to $15,000 a year. All fucked.

Use to be super rural. Now it’s all yuppies paying landscapers to mow their 4 acre yards because they “live in the country.” But there no farms left because raw land is worth $200,000 an acre.

 

[Jim Oaks]

I bought my house in January 2021 for $112,000 with a 2.75% interest rate. My house is unsured for $161,000 and my yearly premium is $1,600. I know it went up slightly after covid because the cost of building materials went up, therefore the cost of replacing my home went up.

My property tax on my 1,200 sqft house and 1,400 sqft shop was $2,359.94 a year, but the State of Texas passed a property tax cut that reduced my taxes to $1,738.87 a year.

I don't remember, but I think our property tax is a little higher here in Texas, but we don't have an income tax.

My property tax and insurance are in my monthly mortgage payment for a total of $748.96.

 

[sgtsandman]

My mortgage isn't horrible, considering. I pay $964 a month with taxes and insurance all thrown in at a 2.75 interest rate. This is on a house worth about $160,000 at the time on 1/3 acre of land.

Throw the $770 a month loan payment on the 2019, I'm pretty much tapped out once utilities and the cost of living are thrown in. It depends on when the drill checks fall as to how tight things are. Thankfully, the truck will be paid off in June and I can focus on geting the credit cards, that were needed from time to time to make ends meet, paid off.

The idea is to start dumping money into the mortgage once the credit cards are paid off and get it paid off as soon as possible.

All while trying to get the trucks Vagabond worthy, regardless of whether I get invited into the "club" or not. I want them at that level for personal reasons, not just so I can join in the fun and have yet another banner under my name, though that is a nice perk to have as well.