Home Buying in Traverse City>Question Details

Stpete28, Home Buyer in Traverse City, MI

where can i find the taxs and insurance cost of a $140,000 home in traverse city? Also looking for the HOA cost for the area.

Asked by Stpete28, Traverse City, MI Sun Sep 12, 2010

Looking to tansfer to TC this spring. Im needing to put together what I can afford for a house. Also any info on heating prices would help.Thanks

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Typical costs will vary. For homeowners insurance it will largely depend on the buyers credit and the different aspects of the home itself (heat source, location, home type, etc). If you had to estimate for a $140K house, it will be about $750 a year. Property taxes will vary depending on the Township and what the current SEV of the house. If you are within Traverse City, count on your taxes being about 35% more than if you lived outside of town for a $140K house. It is actually hard for us Realtors to give our customers an exact amount to expect regarding property taxes since it will also depend on how the tax assessor treats the sale. I will give you an exact example: Garfield township taxes are $1,922 a year for a house taxed at $140K. A best case/worst case scenerio can be given once you pick a specific house. HOAs will depend on if a house is within a subdivision that has them. Anything within the city will not have an HOA. A typical site condo sub with an HOA will cost you about $250 a year. Hopefully this is helpful to you.
1 vote Thank Flag Link Sun Sep 12, 2010
Taxes in the City of Traverse City for a home valued at $140,000 (SEV=$70,000) are estimated to be $2,520/Year as a Primary home and $3,780 as a Second home. (Source: Michigan Department of Treasury). I recommend discussing Insurance Cost with your Insurance Agent. I would be happy to discuss HOA cost and all of the other aspects of home ownership in Traverse City with you directly. I look forward to hearing from you.
0 votes Thank Flag Link Sun Oct 10, 2010
Typical costs will vary. For homeowners insurance it will largely depend on the buyers credit and the different aspects of the home itself (heat source, location, home type, etc). If you had to estimate for a $140K house, it will be about $750 a year. Property taxes will vary depending on the Township and what the current SEV of the house. If you are within Traverse City, count on your taxes being about 35% more than if you lived outside of town for a $140K house. It is actually hard for us Realtors to give our customers an exact amount to expect regarding property taxes since it will also depend on how the tax assessor treats the sale. I will give you an exact example: Garfield township taxes are $1,922 a year for a house taxed at $140K. A best case/worst case scenerio can be given once you pick a specific house. HOAs will depend on if a house is within a subdivision that has them. Anything within the city will not have an HOA. A typical site condo sub with an HOA will cost you about $250 a year.
0 votes Thank Flag Link Sun Sep 12, 2010
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