Re: Buying A Home
- From: "Randolph M. Jones" <rjones@xxxxxxxxxxxx>
- Date: Sun, 24 Feb 2008 21:37:36 -0500
Trent Woodruff wrote:
On Sun, 24 Feb 2008 14:29:51 -0800 (PST), "deemsbill@xxxxxxx" <deemsbill@xxxxxxx> wrote:On Feb 24, 4:35 pm, Trent Woodruff <afreti...@xxxxxxxxxxx> wrote:
Hey guys,
The wife and I are looking at buying a home in Nebraska for future
retirement plans. We figure if we can get the thing bought while I'm
still working, then we can actually live very well on just my
retirements (military and school)...particularly in small town
Nebraska.
So...as we're looking at homes online, it's easy enough to figure out
what our monthly payment for just the house will be.
However, there is also homeowner's insurance and property taxes.
Property taxes shouldn't be too hefty, since I'm a cheapskate and will
not be buying a particularly expensive home, although small town
Nebraska may have higher tax rates than some other places.
But homeowner's insurance...what sort of expectation should I have for
this? Does it generally go "per $1000 of the home" or what?
Who will be living there? A lot of homeowner's insurance isn't
valid unless the house is occupied.
No kidding? Now that's interesting. Any idea why that is?
We're thinking either letting it just sit empty (my first choice, to
be honest) or letting the parents live there until we retire (the
wife's first choice).
The reason is that if you are not there taking care of the house then there's much more likelihood that something bad will happen to it...this is true whether you have the house standing there empty or if you have other people living in it, although I'm pretty sure you need different kinds of policies for the two situations. Even if it's parents living there, the insurance companies assume that residents who don't actually own a house are going to treat it differently from residents who do own it. And they're right, in general.
.
- References:
- Buying A Home
- From: Trent Woodruff
- Re: Buying A Home
- From: deemsbill@xxxxxxx
- Re: Buying A Home
- From: Trent Woodruff
- Buying A Home
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