More reasons to hate last years ice storm.

[baboon]

$3048 / yr on a 2100 sq foot mfg home, we're on just under 3 acres in Montgomery Co. Damn insurance was almost as much as the property tax bill this year.

One of the reasons I didn't move towads Magnolia or Montgomer County. I'll bet Friday night traffic still sucks to go nowhere.

 

[Sasquatch]

One of the reasons I didn't move towads Magnolia or Montgomer County. I'll bet Friday night traffic still sucks to go nowhere.

Dude, if only that. They're doing a widening project right now - has 1488 all buggered up. From what I understand the end-goal is 5 lanes from 1774 all the way to 290. Construction traffic has been a nightmare at times near our place. Then there's the trains that seem to roll thru every 45 minutes - they really need to make a flyover for 1488 at 1774 for that if the area keeps getting bigger!

This year's Ren Fest traffic really wasn't bad, except on Friday nights if you wanted to get a bite to eat in-town. Whataburger, Sonic, and McD's had huge lines well into the night. The couple places we enjoy eating in town likewise were packed. If it was a dinner-out kinda night, we ran into Tomball.

 

[Fishkiller]

I‘m at $2800 for 2700 sqft house. They say because my roof is 20 years old. I’ll be damned if I’m going to put a roof on with building materials what they are. BIL had one put on his house 4 years ago, and about the same size roofing area and it was $10k. Probably 20% more to do that Sam roof today. I’ll wait until things cool off.

One of the downsides of country living. You are in Houston which is a "High Wind " zone so you get to pay more. Be glad you do not live in a flood zone. I was paying $3,000 a year just for flood insurance and it went up every year, and I never filed a claim.

 

[baboon]

One of the downsides of country living. You are in Houston which is a "High Wind " zone so you get to pay more. Be glad you do not live in a flood zone. I was paying $3,000 a year just for flood insurance and it went up every year, and I never filed a claim.

I have a buddy in League City who had to pay wind storm insurance along with flood. My guess is he is hot about that.

 

[Fishkiller]

I have a buddy in League City who had to pay wind storm insurance along with flood. My guess is he is hot about that.

Yes coastal areas get the double whammy. And the icing on the cake is flood insurance is managed by the feds. They set the rates and muck it up every time.

 

[Eli]

If you think your flood insurance is bad now, there's an earnest effort to make the National Flood Insurance Program (NFIP) self-sufficient. It's always supposed to have been self-sufficient, but it never has been. To make it self-sufficient, some property owners are got to see a tenfold increase in rates, floood-prone homes in the Houston area are going to got from a few hundred per month to several thousand dollars pert month in flood insurance premiums! It's not all bad, many of these changes should coincide with the floodplain maps being revised (updated & corrected), which is going to bump a lot of properties out of the floodplain.
Here's some surprising data I got from a class I took, I'm a Realtor and try to be the best:

Eli

 

[baboon]

If you think your flood insurance is bad now, there's an earnest effort to make the National Flood Insurance Program (NFIP) self-sufficient. It's always supposed to have been self-sufficient, but it never has been. To make it self-sufficient, some property owners are got to see a tenfold increase in rates, floood-prone homes in the Houston area are going to got from a few hundred per month to several thousand dollars pert month in flood insurance premiums! It's not all bad, many of these changes should coincide with the floodplain maps being revised (updated & corrected), which is going to bump a lot of properties out of the floodplain.
Here's some surprising data I got from a class I took, I'm a Realtor and try to be the best:
View attachment 301161

View attachment 301162


Eli

Not unlike the insanity of houses along Braes Bayou getting lifted up 10 feet in the air.

 

[Coop's Dad]

Also look at the Protection Class for your address- among other factors, it's a combination of how far you are from the fire department, how far away is the nearest hydrant and if the FD is municipal or volunteer.

We live out in the county, no hydrants, and with a VFD. Class 9, the highest it can go. And, like golf, higher is worse.

 

[roadkill]

I guess for what I have it ain’t bad. My insurance guy is really good about cost, but I’m looking at a $600.00 increase over last year.

I reallly need to find a way to make money off my empty shop building.

Neighbor.com to put that shop building to use. Never used it but it’s the same concept as Airbnb

 

[candcallen]

I guess for what I have it ain’t bad. My insurance guy is really good about cost, but I’m looking at a $600.00 increase over last year.

I reallly need to find a way to make money off my empty shop building.

The ammount of money people get for renting out stuff like that....

 

[oldag]

Around here, home sales prices have gotten astronomical. Probably 30-50% increases. That is gonna drive the insurance bill in a really bad way.

 

[Eli]

Around here, home sales prices have gotten astronomical. Probably 30-50% increases. That is gonna drive the insurance bill in a really bad way.

Insurance costs are more related to replacement value than property value; replacement value on my house is about 50% above the property value. It used to be a lot worse, there are several vacant lots in my neighborhood because it was less expensive for the insurance companies to buy out the damaged home, demolish it, and sell the vacant lot than repair the structure.

Eli

 

[oldag]

Insurance costs are more related to replacement value than property value; replacement value on my house is about 50% above the property value. It used to be a lot worse, there are several vacant lots in my neighborhood because it was less expensive for the insurance companies to buy out the damaged home, demolish it, and sell the vacant lot than repair the structure.

Eli

Correct, but the two tend to track each other.

 

[Eli]

Insurance costs are more related to replacement value than property value; replacement value on my house is about 50% above the property value. It used to be a lot worse, there are several vacant lots in my neighborhood because it was less expensive for the insurance companies to buy out the damaged home, demolish it, and sell the vacant lot than repair the structure.

Eli

I'll add that I sold a home several years ago for $190,000 - which was above market - that the seller had receipts for over $250,000 in insurance-funded repairs from about 18 months prior. This was in addition to a rental, personal property (some repaired/refurbished, some lost), etc.

Eli