The Ups and Downs of Homeownership

A few weeks ago, I got good news and bad news all wrapped up into one. The county reassessed the value of my townhouse, and it’s gone up. And while it’s nice that my home is worth twice what I owe on it, the extra $100 a month on my mortgage to pay those taxes, is not so nice.

Showing my usual mature side, I set aside the notice and pretended like if I ignored it, maybe it would go away. But no, yesterday the full new cost of my mortgage was drafted out of my bank account, and now my budget is $100 tighter, which is a lot on my stipend.

However, now the flood zone status of my home is being reassessed by FEMA, and it looks like I can drop my flood insurance, which will save me about $60 a month. But, unfortunately, that doesn’t give me that breathing room I need this month.

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2 Comments

Filed under House and Garden

2 responses to “The Ups and Downs of Homeownership

  1. Wow that’s crazy that your taxes went up that much!

    • Taxes have been a roller coaster. Originally my home was being taxed at the price from the last sale, in 2005, which is 4 times what I paid for it. Then last year, it got reassessed to my sale price, and I got a huge reimbursement, and a drop in mortgage payments. And now it went up again, not as much, but still. I’m hoping it will level out, plus with the savings from flood insurance.

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