It really comes down to how much you value convenience over control.
This is exactly what I keep going back and forth on. I like the idea of having control, but as a first-timer, I’m low-key worried about missing something important. Is it really just a matter of setting reminders, or are there hidden “gotchas” if you handle taxes and insurance yourself? I’ve heard about people getting hit with penalties or lapses in coverage—how common is that? I want flexibility, but not at the cost of a nasty surprise down the road.
Honestly, I get where you’re coming from. When I bought my first place, I thought handling taxes and insurance myself would be a breeze—just set a calendar alert, right? Turns out, it’s easy to miss stuff if life gets busy. I’ve had friends who forgot a payment and got hit with late fees or even a gap in insurance coverage. It’s not super common if you’re organized, but it does happen. If you’re the type who likes spreadsheets and reminders, you’ll probably be fine. But if you’re prone to forgetting bills, escrow might save you some headaches.