Anyone with a vacant home or unoccupied 2nd home

bigtendominator · Sep 19, 2011

I was wondering what is your operating cost for a home that sits vacant?

Particularly, I mean by percentage, to normal operating cost (not including prop tax or HOA fees).

If you are paying $1000 for elecrtic, water, etc. Are you able to almost terminate 75% of most cost when the place is vacant?

Considering a job opportunity that may take me away from DFW for a year.

Thanks,

Bourn · Sep 19, 2011

Other than your mortgage payment, i would say you would cut utilities by 90% if it's just sitting there.

Have you thought about renting it out?

Where are you thinking of going?

barman · Sep 19, 2011

Bourn said:
Other than your mortgage payment, i would say you would cut utilities by 90% if it's just sitting there.

Have you thought about renting it out?

Where are you thinking of going?

As I recall from my time in DFW, many home insurance policies will deek you extra if they are aware that the house is unoccupied (perceived increased risk of burglary/vandalism etc). Keep that in mind before moving and/or revealing such details to your carrier

bigtendominator · Sep 19, 2011

Bourn said:
Other than your mortgage payment, i would say you would cut utilities by 90% if it's just sitting there.

Have you thought about renting it out?

Where are you thinking of going?

Don't want to rent it out.

Location is yet undetermined.

bigtendominator · Sep 19, 2011

barman said:
As I recall from my time in DFW, many home insurance policies will deek you extra if they are aware that the house is unoccupied (perceived increased risk of burglary/vandalism etc). Keep that in mind before moving and/or revealing such details to your carrier

Thanks Bar. Good advice.

barman · Sep 19, 2011

If I recall correctly, you're North Irving area, eh?

bigtendominator · Sep 19, 2011

barman said:
If I recall correctly, you're North Irving area, eh?

Plano

D2bets · Sep 19, 2011

Bar is right, insurance companies hate vacant homes and if you read your policy it probably states that you are required to notify them within a certain time or it voids your policy.

You also want to consider maintenance issues, like lawn care, frozen pipes, water in basement, etc. Maybe get a service that will monitor your house for problems.

HiPockets · Sep 19, 2011

Insurance issues are a definite consideration. If something goes wrong (neighborhood kids start messing and get hurt on the property) it will take minutes of neighborhood interviews for the insurance co to deny your claim. As already said, you have to tend the lawn and clear snow and the neighbors will quickly get into your business and get on your ass. I got stretched between two houses, a one hour drive apart, for a year while I upgraded everything in the old house enough to sell it and it was a pain in the ass and lots of stuff got stolen. If I did it again I would get someone in the house, either as a rental or as a temp worker. Good luck

barman · Sep 19, 2011

SheBar and I have most definitely entertained the notion of relocating back to Dallas, though it's not likely for a few more years since my line of work (lawn/garden/trees) "can" be worked 12 months a year in DFW, but Nov-Jan are often less than friendly working conditions, relatively to TBay FL area.

At this time, she's pretty much all "Plano/Frisco", because that's where she lived during her five years and it's where my family base has been for almost 40 years. I'm pretty sure I'd preefer to get out on the northwest side of the airport for better access to Rangers....heh

Great area overall. I hope you've got a really solid opportunity if you're inclined to move yourself for a year elsewhere