Quote:
Originally Posted by Mom222
We've been checking out open houses in TV for several years but only recently actually met with a salesperson.
We're considering building a new house in the 500K range. The salesperson said (or hopefully I misunderstood) that the annual cost of property taxes + bond is 2-2.5% of the home's value. So this would be up to about $12,500 per year.
We have lived in FL for decades. Our current home is worth about the same amount and our taxes are 4K per year. (I don't know how/if homestead exemptions, save our homes transfer).
So I was expecting taxes to be about 5K per year which would mean the bond could be 7K or more per year--- or about $600 per month.
Is the bond really about $600 per month? Does this seem about accurate? Are property taxes a lot more than 5K per year. Does the total amount seem pretty accurate?
I'm disappointed if it is as that is a large monthly expense.
Thank you!
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I have a friend who thinks as an accountant. I am still teasing him about an e-mail he sent about how much toilet paper he uses compared to his wife.
The salespeople I'm sure will be able to give you reasonably accurate information. Remember, beware it is likely that inflation will exceed raises in social security and a pension.
You mention that you have another home in Florida. You do not say if you have sold it or plan on selling it. Likely the home you own is going up as well as rising in the villages.
The difference is well toilet tissue. Mortgages, a friend just put together a deal to buy an
apartment for with his unemployed son. I do not know much only what he has told me. Mortgage interest was 3% closing was $6000. I would guess at 6,000 in closing he paid for points to bring the quoted rate down.
The CPI, consumer price index just came out as 4.2%. Is this the right time to buy?
I DON'T KNOW. Chances of prices going down in the near future, not unless we have severe economic crisis.