Home insurance and house age
Hello everyone,
I am very curious to learn more about the relationship between home insurance and house age. I have a couple of investment properties in Dallas. One is 2013 built, 2151 sq feet in Little Elm (on the border of Frisco) and the one is 2000 built in Frisco. The insurance cost on the Little Elm (newer) property is $800 annually, whereas the insurance on the Frisco (older property) is $1,800. I am looking to buy one more property and the quote on that one too is around $1,800 and it is built in 2002.
I was wondering if there was a co-relation between age of the house and a significant price difference in insurance costs. If yes, I might be better off paying an extra $100 / month in mortgage as opposed to insurance as this will get me a nicer house. Please let me know if I am not thinking about this correctly, thank you.
Most Popular Reply
I wish I lived in an area where a 00's build was "older".