Looking to buy an expensive house. AVERAGE TOTAL WITH TAX, INSURANCE?

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Im lookin to buy a house for between 120,000–150,000 the payments would probably range around 550-600 a month but I know that when BUYING a house you have taxes and property tax and insurance… So my question is, how much do you think that would add on a month? I live in Texas by the way if that helps. Thanks!

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    November 10, 2011 at 2:02 pm

    As for property taxes and insurance, that really depends on where you live. Texas is a large state and there’s no general tax information. The higher your property value (based on assessments), the more taxes you pay. Also, most realtors are willing to provide you with the property tax amount for the previous year to give you a general idea. As for home insurance, that really depends on how much you want to spend on liability, etc. There’s cheap insurance (bare minimum) and then there’s insurance to cover anything and everything which costs significantly more. There’s no average or general number anyone can give you. My client pays $ 2500/year for home insurance and $ 10,000 for property tax in 2010. For many that’s a lot, but in some areas that’s average or considered cheap. It’s all relative to location, neighborhood etc.

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