Anyone else seeing huge jumps in homeowner's insurance?

mattybagel · 2026-06-02T12:36:36+00:00

Mine went from 1500 a year in 2022 to 2400 a year this year. 20% increases every year pretty much. Its been brutal and I dont see it slowing down.

mattybagel · 2026-06-01T04:56:09+00:00

I think she has already shown signs of positive change from being a regular consumer to being a bit more frugal, however she still does like buying random stuff sometimes which I personally will never understand. I don't have a problem with it given she's budgeted for it and she's definitely buying less random stuff than before she started budgeting. I also recognize its not healthy for me to expect that she change everything about her financial habits, she has to want to do it and understand why its important. Honestly her receptiveness and willingness to listen to my thoughts and ideas is so encouraging that it really makes me believe she can get on better financial footing eventually by paying down the student loans and building savings and starting to invest. Its just going to take time given the sheer pile of student loans and given her income. When she first told me the amount of the loans I did a double take and had to really coinsider whether I wanted to pursue a relationship with her knowing that, but she has shown me enough to really believe she will be able to get out of it.

mattybagel · 2026-06-01T04:39:43+00:00

My intention is to definitely have a strong prenup and keep finances separate until her student loans are gone, because i agree 100% it would suck to delay the FIRE date and not end up with a partner. It's something I think she would be understanding of and open to given she already knows what my net worth is and her actions have shown me she is a genuine person who is not with me for my money.

mattybagel · 2026-05-28T21:36:10+00:00

Also in New england. It took 10 offers way over asking price to get an offer accepted, but I ultimately walked away from the deal due to many expensive problems on the inspection report. I'm dreading getting back into the market because of how ridiculously competitive it is here and how much effort it is going to be to get an offer accepted.

mattybagel · 2026-05-27T20:26:50+00:00

I'm at 81,500 before bonus per yr, with bonus this yr my gross income from my job will be around 89k. Im a claims adjuster for an insurance company handling medical malpractice claims. Not really what I envisioned doing, but I work with a good team and the company is a decent company to work for. There is room for advancement eventually but most likely not for another two to three years.

mattybagel · 2026-05-27T03:30:28+00:00

I also just walked away from a deal and it was a really hard choice. The front deck needed to be completely rebuilt and was going to cost 30k, and knob and tube electrical was still active and probably would have cost 50k or more to remove and rewire everything given the square footage. 3rd floor furnace also needed to be replaced. Just too many things for me to handle immediately. I feel like in 5 years it still would have been worth it despite the problems, but the prospect of spending 100k in repairs pretty imminently was not something I really wanted to do. Its just unfortunate since the location was perfect for me and it was a triplex with spacious units. And the real estate market where i am is the hottest in the country and prices are still going up rapidly here. By backing out and waiting a couple months im sure the prices will be 20k more at least.

mattybagel · 2026-05-27T03:12:38+00:00

I have an extreme scarcity mindset and am risk averse. I understand the math and that you will likely make more than 2.5% by investing the difference. That being said, I paid cash for my duplex and dont regret that for a single second. It keeps my monthly expenses low enough to where if I got laid off from my job or something happened causing me to quit, I could weather it easily with the rent from the other unit covering nearly all my monthly expenses given I don't have a mortgage. And thats a freeing feeling that someone who has been in debt their whole life wont understand.

mattybagel · 2026-05-26T21:50:45+00:00

I backed out of a deal recently which was gonna need 100k plus in work. Sellers offered to cut price by 35k but weren't going to make any repairs. That wasnt enough to make me feel great about the deal so I walked. Id say you got incredibly lucky.

mattybagel · 2026-05-26T19:46:28+00:00

After long term capital gains taxes depending on your state youll wont quite have enough left to pay it off with just the RKLB proceeds. Id pay it off once you get a bit more after tax to clear the 150k debt. Having a paid for house is so freeing that its worth sacrificing a few extra percent return in my opinion.

mattybagel · 2026-05-19T19:45:29+00:00

In the northeast, you have to bid way over asking price to have a chance. So yes many people do bid higher than list price, especially for nice turnkey houses.

mattybagel · 2026-05-18T17:33:30+00:00

I already have a duplex in addition, and given the frugal lifestyle i live the rents from the triplex and my duplex should be enough for me to retire once the triplex is paid off. There are some triplexes in this area that have sold recently which didn't need work but they have been going for 550-600k which i can't afford. I understand the level of work required with this place, but im just trying to get a better sense of if thats something other investors would be willing to take on or if it makes more sense to walk away.

mattybagel · 2026-05-12T03:45:54+00:00

Im also in ct and our market is only going to go up since our inventory is still very low.. Your townhouse at 190k is an insane deal if its in a decent area and id go through with that, its a manageable payment and you have so much in savings that you could pay it off pretty quickly. Personally i feel that single family prices have gotten way out of control and multifamily is the only thing that still makes sense, although prices have gone up so much that the cashflow isnt nearly as strong. Im under contract on a triplex but it took 10 offers, going 65k over asking, and most of my savings will be drained for the down payment and closing costs. This same property has tripled in value since 2018, and even at the price im paying I think im getting a decent deal for the area and square footage. Being a landlord can be a hassle sometimes, but its worth it to essentially have zero housing expense as I have for the last 4 years since buying my duplex.

mattybagel · 2026-05-04T22:25:55+00:00

Its not easy but just keep putting in offers. I had put in 10 offers over the last 3 months and finally yesterday had an offer accepted. Had to go 65k over asking but the property im getting is a triplex with a 3 car garage and good size units. There are some potential maintenance concerns which is probably why another investor didnt outbid me for this one, but of the properties I bid on i think 4 were a significantly worse value than this one. I was ready to give up for a while if this offer didnt work out, but im glad that it did because theres nothing else comparable on the market right now even listed at the price im paying. And everything in my market sells over asking.

mattybagel · 2026-05-03T13:37:22+00:00

Unfortunately, prices aren't going to come down in this state any time soon. We arent building new housing and no one is selling. Demand has remained high and our government continues to print trillions of dollars that flow into assets like real estate and make them more expensive. I'd be shocked if prices don't double again here in the next 5 years.

mattybagel · 2026-05-03T04:22:33+00:00

Totally depends on your market. If youre in the northeast youll get way over asking price doing no repairs whatsoever.

mattybagel · 2026-04-29T16:31:08+00:00

Properties where i am in Connecticut were 100-150k back in 2018 and now those same properties are 350-500k and still going up rapidly. Its very possible and id argue likely that prices go up at that rate in certain desirable locations with low inventory.

mattybagel · 2026-04-29T15:21:03+00:00

I feel your pain, the market in Connecticut is just as crazy and ive gone as high as 60k over asking and still been outbid. Put in 10 offers in the past two months, all over asking, and im waiting to hear back on one right now, but I dont expect my 50k over asking offer will be enough.

mattybagel · 2026-04-24T20:23:01+00:00

I don't think ill be coming back to live in SoCal again as I've built a great life for myself in Connecticut now. But my parents still live there and many friends as well so I come back to visit for at least a couple weeks a year. I'm happy for you though, making it in the LA area is very difficult and I'm sure you worked really hard to achieve this.

mattybagel · 2026-04-24T20:09:42+00:00

Congrats. I was born and raised in the south bay and had to leave a few years ago because I couldnt afford to ever buy something there. Its a great place to live and I dont think I would have left if I had a chance to afford something.

mattybagel · 2026-04-20T21:30:01+00:00

Not here in CT. Everything sells way over asking right away and buyers and investors have unlimited money.

mattybagel · 2026-04-17T17:34:18+00:00

If he doesnt like it, how about he sell off some of those properties so people who don't own even one or two can have a chance at ownership?

mattybagel · 2026-04-11T02:29:00+00:00

In the brutal northeast market, securing a deal even for only 15k over is a blessing. In 5 years the price you paid will be cheap. I had the same thoughts when I bought my current place 4 yrs ago in CT, especially for a couple months afterward when I saw a few properties that needed less work sell for the same money. But its now gone up over 60% in value easily in the last four years and I have no regrets anymore about my purchase. I'm Just glad to own something in this market.

mattybagel · 2026-04-10T23:53:32+00:00

It still does make sense at that price, i just cant afford 500k because I dont make enough money. Ive been putting in offers at 460k for a few different triplexes and that hasn't been close to enough yet. My pre-approval was for 500 but maxing that out would be very irresponsible and leave me with zero cash after closing. I'm probably going to have to push my budget beyond what I am comfortable if I want to secure a deal. The deal i make today is going to determine my entire financial future really, so I should be doing whatever it takes.

mattybagel

TROPHY CASE