Skip to main content

What would you do? After homeowners and reevaluations plus permit our perspective mortgage increased $450 per month

Just curious how people navigate this kind of stuff. After actually securing homeowners insurance and running some final numbers, it seems as though our payment will be $450 more per mth then we had planned. A small portion of that we planned for as we new the homeowners would be more ( $100 or so). The surprise is in the taxes. There was an addition put on the home and they didn’t pull permits at the time. The owner did mention this however she grossly miscalculated and said it added about 200 sq feet when really it increases the sq footage by over 500sq ft. That plus the new revaluations and we would end up paying an extra few grand a year in taxes. Honestly I’m not loving this. But we do have to be out of our house and rentals are hard to come by. Plus the whole who knows what the spring will bring issue. I know we have to do what’s comfortable for us. I’m curious if this is typical and we are ill prepared??

submitted by /u/-S_N_V-
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/roy2xk/what_would_you_do_after_homeowners_and/
Labels:

Comments

Post a Comment

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...
1 comment
Read more

How to Avoid Property Scams in Delhi?

Here’s What You Should Know! Commercial Real Estate (Non-Residential) Buying a property in Delhi can be tricky, especially with all the stories about scams and shady deals. If you're in the market, here are some tips to keep yourself safe:Double-check the documents: Always verify ownership and approvals. Don’t just take someone’s word for it—look at the actual papers. Do your homework on prices: Compare similar properties to avoid overpaying. A little research can save you from a bad deal. Work with trustworthy people: Whether it's a seller or an agent, go for someone who's transparent about pricing and the process. If they’re dodging questions, that’s a red flag. Ask for reviews or references: If someone you’re dealing with has a good track record, they won’t hesitate to share testimonials or connect you with previous clients. I’ve noticed that some property services have started focusing on things like verified listings and clear communication, which makes the whole proc...
Post a Comment
Read more