175,614
I did not know that. Of course, opinions vary but for me, I appreicate the older homes and believe they just don't build them like they used to. I live in a historic home, with a pool and have seen many newer properties with higher home owners insurance rates than mine, but some of that is replacement value of building the home today (burnt adobe, good luck as it is not cheap). Also, here in Tucson, AZ it would depend on when we are talking about. During the real estate BOOM! during 2004-2005 builders were literally slapping houses together as fast as they could, home inspectors tell me all the time of properties built during this period that were done so poorly. Cars and homes, they really do not build them like they used to. I always enjoy your blogs and comments Mike, thank you for taking the time to write them. Spirit
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Sandy Padula & Norm Pa...
, CA
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Mike Rock
Granite Bay, CA
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Roy Kelley
Gaithersburg, MD
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Spirit Messingham
Tucson, AZ
3,071,489
Mike Rock Didn't know it - but it makes sense!
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Tony and Suzanne Marri...
Scottsdale, AZ
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Mike Rock
Granite Bay, CA
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Sandy Padula & Norm Pa...
, CA
231,224
Spirit Messingham so i just saw carol hit on you lol.... then i refreshed and it was gone!!! i hope you saw it..im jealous :) Carol Williams
and.. Andrzej Niemyjski as for any danger of flooding, the slope and drainage ensure that will never happen here...plus it is a help to the fire dept in the event of a fire :)
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Mike Rock
Granite Bay, CA
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Sandy Padula & Norm Pa...
, CA
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Spirit Messingham
Tucson, AZ
3,164,294
actually even sometimes adding a new roof to an older home can lower your insurance rates. It's not all safety standards.
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Sandy Padula & Norm Pa...
, CA
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Mike Rock
Granite Bay, CA
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Roy Kelley
Gaithersburg, MD
145,403
In some cases isnt it cheaper to replace it in?
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Mike Rock
Granite Bay, CA
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Sandy Padula & Norm Pa...
, CA
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Roy Kelley
Gaithersburg, MD
2,178,603
The pool would certainly increase the liability risk... and rates!
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Mike Rock
Granite Bay, CA
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Sandy Padula & Norm Pa...
, CA
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Roy Kelley
Gaithersburg, MD
1,725,996
Hate to say it, but FICO scores are considered in setting the premiums.
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Joan Cox
Denver, CO
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Mike Rock
Granite Bay, CA
4,800,082
Odds are that a new home will have fewer claims. That's why they charge less.
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Mike Rock
Granite Bay, CA
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Sandy Padula & Norm Pa...
, CA
212,755
I did not know that, I know that insurance companies take into account the amount of claims on the property. It is always the houses fault never the people living in it.
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Mike Rock
Granite Bay, CA
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Sandy Padula & Norm Pa...
, CA
4,319,419
Frankly Mike Rock I did not know about this. May be, now if someone asks me the choice between brand new and 50 years old, one more factor comes into play for decision making.
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Mike Rock
Granite Bay, CA
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Sandy Padula & Norm Pa...
, CA
3,727,873
News to me! And I'm sort of surprised because I think a lot of the houses that are being put up today are not likely to last as long as the 30-year mortgage it will take to buy them!
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Mike Rock
Granite Bay, CA
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Sandy Padula & Norm Pa...
, CA
1,574,666
I know it well - especially here in Florida! I advise my customers to make this a consideation when shopping for their new home.
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Mike Rock
Granite Bay, CA
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Sandy Padula & Norm Pa...
, CA
5,868,554
Mike, I did not know that either, and good to know when buyers are considering new or resale!
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Mike Rock
Granite Bay, CA
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Sandy Padula & Norm Pa...
, CA
7,836,139
I did not know this. This is good information to share.
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Sandy Padula & Norm Pa...
, CA
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Mike Rock
Granite Bay, CA
3,988,007
Yes knew that and also tell my clients that having a secuirty system or a monitored fire alarm will reduce costs. On older rental property you can also get a reduction for systems that have been updated or at least we can through State Farm.
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Mike Rock
Granite Bay, CA
900,128
Makes sense; fewer things are apt to break e.g. pipes, flooding the home, damaging it and so on.
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Mike Rock
Granite Bay, CA
6,393,494
It helps to have everything in good repair, hopefully that is the case with these new homes