I live in TN. I have a 2300 sq ft farmhouse and 14 acres on 15 year fixed 4.25% mortgage; with taxes and insurance, etc., I pay $600/mo. My insurance is really pretty high because of the farm out-buildings. I keep hoping my barn will get taken out in a storm. My property taxes (included in the $600) are pretty negligable, about $35/mo. My utilities, including internet and satellite TV total about $150/mo. I just bought storm windows and a new storm door, so hopefully it’ll cost less to heat my home in the winter. I was paying $150/mo to board my horse, which I no longer have to pay. I have 12 years left on my mortgage. I was thinking of paying it off early, but with the interest rate so low, it’s almost a better deal to stick the extra money in my investment account.
I’m slowly rehabbing my house, which was built in 1849. I can’t afford to spend much on it right now that isn’t essential, like insulation and the new storm windows. Being single and under-employed, I’m pleased that I manage it all on my own.
StG
Mortgage payment (including escrow fro PMI, insurance, and taxes) is $960 this year. This includes some makeup for insurance and tax shortfall from last year (they both went up).
Utilities are probably $500, although gas and electricity fluctuate quite a bit.
St. Louis still has some inexpensive livable pockets. They seem to be rapidly disappearing, however.
Good thread-people really don’t realize how much it costs to maintain a house-fortunately, i can do most of the work myself. if i had to pay (plumbers, electricians, carpenters, etc.0, i’d be bankrupt! I was shocked to find out that the average charge here (for replacing a sink faucet0 is about $100! :smack:
About 3K for the mortgage (which includes taxes and insurance; the taxes have gone up 300 a month in the past 4 years, ouch. This is on a 30-year mortgage at 5.75%). Say, another 250 on average for gas/electric/water (may be more now that we have a sprinkler system running during the summer). 85 for cable (expanded basic + internet) and 60 for homeowners’ association. WAG about 200 a month for assorted repairs/maintenance. We’re also paying 200ish a month on a HELOC which was used for some landscaping improvements and new central air conditioning. So 4100 a month. Though a large chunk of that - maybe 2400 a month - is tax deductible, so that reduces our cost by the tax savings on that 2400/month.
We’re in the DC metro area. We both work but we could NOT afford this house if we were buying it new right now.