I normally don't flake out and change my mind once I *finally* make a decision, but this time is different. On Friday, I was supposed to call the realtor to make an offer on the house we like, but I just couldn't bring myself to do it. Something just didn't feel right. All day long a certain dollar amount kept swirling through my mind: It's the difference in insurance costs and taxes that we'd be paying - and it's pretty substantial. Manageable, but substantial. If I thought things were stabilizing in the insurance industry here in Southeast Louisiana, I'd move forward, but insurance companies are still looking for ways to minimize their risk and there's no telling what changed might be in store next year.
I may have mentioned this in a previous post: I have my insurance with a major insurance company. It covers my homeowners, including wind/hail damage (replacement cost). If we buy a new house, the same company will insure it, but it will drop the wind/hail coverage so we'll have to go through the state's insurance plan for wind/hail, and it would only be actual cost (depreciated) and quite expensive.
Plus the current law on the books state that an insurance company doing business in the state of Louisiana cannot drop a customer without a good reason if they've had their policy for 3+ years. A new house = a new policy. Never mind that we've been insured with them for 17 years. They could feasibly drop us within the first three years of owning the new house and then we'd have to go through the state insurance plan ($$$$) for all of our coverage.
Ultimately, the insurance represents too great an unknown variable for my comfort level so we're staying put. Perhaps in the next 3-5 years the insurance industry will stabilize (and hopefully the real estate industry won't skyrocket).
Meanwhile, my realtor put the For Sale sign up Friday. I was NOT expecting that. I thought he'd put it up Monday (today) when he came to take the interior pictures. I asked Dear Hubby to call and "break up" with our realtor, who handled the news fine. We took the sign down.
Home, Sweet Home.