Posts tagged "much"

How do I use a “how much home can I afford?” calculator?

Question by ralph w: How do I use a “how much home can I afford?” calculator?
I’ve been playing with online house affordability calculators like this one:

http://finance.yahoo.com/calculator/real-estate/hom01

Why do these calculators ask you to enter “Estimated annual property taxes” and “Estimated annual homeowner’s insurance?”

Isn’t your annual property tax going to be BASED ON how much home I can afford? How am I supposed to know the amount of the taxes when I don’t know the value of the property? Isn’t this putting the cart before the horse? This would make a little more sense to me if they asked for a percentage.

Ditto, for the insurance. Isn’t insurance also based upon the value to be insured?

I’m probably misunderstanding these terms, but these calculators usually have really lousy instructions.

Thanks!

Best answer:

Answer by glenn
It is a kind of catch 22, you are right.

But in my area the property taxes are going to be about 2.8% or the purchase price per year. In an area just 20 miles away it might be 2.0% or 3.5%. The city, school and county all sit their own rates. I don’t know how your area is. The insurance depends not only on how valuable the house is but how good your credit is and how large a deductible you can stand and a whole host of other variables.

I think these sites are trying their best to warn you that these costs might make up a quarter of your house payment or even more and you need to think about them when you are looking at houses.

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How much “house” Can I afford to buy?

Question by Greyt: How much “house” Can I afford to buy?
If I’m making $ 990 week before taxes, no car payment, no credit debt, very high credit scores, I pay $ 118month for cable/internet but I’m canceling that service. Car expenses come to $ 250 month with insurance/gas. I only have about $ 10,000-12000 for a downpayment. What can I afford? I have an appointment with a bank but they can only fit me in two weeks from now. I’d like to look at what I might be able to afford. (Go see open houses)

Best answer:

Answer by Bob D
just a rough estimate…three times gross salary. or about 150,000. Rough payment is about 900 a month including PMI.

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Does anyone on here have “General Liability Insurance” ? Was it hard to get and are you paying too much 4 it?

Question by gurl01: Does everyone on right here have “Common Liability Insurance” ? Was it hard to get and are you paying as well much 4 it?
I know somebody that’s about two start working as a home inspector for a firm, but they told him he necessary two get general liability insurance we recognize y and every little thing. He’s just getting a hard time finding quotes and also I want 2 know of anyone that does this sort of job and has this insurance just 2 know how it’s working 4 them. So I would enjoy if any person that does this four a living or understands about this insurance coverage to get back to me thanks.

Finest solution:

Answer by Kevin C
Depending on exactly where your friend lives, the insurance shouldn’t be as well costly. With my business (State Farm) the rate is determined based mainly on expertise in the field.

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Saving money on home insurance with Anne Marie Thomas with Rob Carrick from the Globe and Mail

Anne Marie Thomas, Account Manager at the insurancehotline.com website, with Rob Carrick from the Globe and Mail discuss how to save money on home insurance.

Why are home insurance rates going up? How can you save money on home insurance? What kind of deductables do people typically have on home insurance policies? How much should you pay out-of-pocket before you make a claim on your home insurance?

Duration : 0:2:58

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