Quote:
Originally Posted by roadrnnr
We are looking at homes in the 15 -20 year old range in Sumpter county simply because of the location and lower tax
Working with a realtor and we told him to only show us houses with new or newer roofs because of all the stories I have heard about insuring with an older roof.
My ? is if purchasing a house in that age range with a new or newer roof is the price of insurance back to reasonable levels.
He is telling me I could expect to pay about 1200-1500 a year with a house that age with a new roof.
I would like to hear from anyone who is actually in that situation.
We just came back from a lifestyle visit and it was everything I expected and more.
Thanks
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We bought in Dec '21, and wanted to be between 466 & 466A for a lot of reasons so we only looked at older homes (ended up in Virginia Trace, extremely happy w/location, house, and neighborhood/neighbors). We knew about the roof & insurance issue, so we simply adjusted our acceptable price to range by the cost of a roof - we only looked at those with older roofs by that much, and allowed more on those with new roofs.
I'm very glad we did - our house was built in 2007 & had the original roof, but it was in good shape and the inspection said another yrs left on it. We adjusted our offer price to ensure we had the resources to reroof it after purchase, and did so. Our original insurance was 1700/yr, and as soon as we reroofed (we closed in Jan, got estimates Feb, new roof in Mar) we changed insurance companies for the lower cost of 1300. We got a house model/layout and location we really loved, and saw plenty of houses with both new and old roofs to pick from.
By the way, the other constriction point we found on house insurance was the water heater - never had an insurance carrier that cared about the age of our water heater before this, but when I was getting insurance quotes for the closing prep, found that part of our higher insurance was also that we had the original water heater so we also immediately replaced that after closing and before changing insurance.
And yes, our lower house insurance did go up this year, but STILL lower than it was with the old roof and water heater.
Enjoy that house hunting process - my best advice is don't settle, find something that you really like in layout and location. There is a lot of turnover in houses here, so your house is out there somewhere!