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Old 09-25-2013, 02:46 PM   #41
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Originally Posted by Meadbh View Post
I'm sure you all know the story about the plumber who charged $150 for a 1 hour call. The homeowner retorted "I wouldn't pay that much for a brain surgeon!"

The plumber's response: "I know. I used to be one."
If you can get $150/hr fixing people's plumbing, why do people get a huge student loan to go to college?? I am not being sarcastic. I didn't know they made that kind of money.
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Old 09-25-2013, 02:54 PM   #42
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Quote:
Originally Posted by tmm99 View Post
If you can get $150/hr fixing people's plumbing, why do people get a huge student loan to go to college?? I am not being sarcastic. I didn't know they made that kind of money.
First, the plumber has fixed costs associated with the call, including the gas that it took to get to your house. He or she has the opportunity cost of the travel time. There are amortized costs of tools, materials and the truck. So it's not all labour. Finally, if the plumber is not self employed, he or she may see only a fraction of the $150.

The brain surgeon has many years of study during which he or she was unable to generate significant income (which is why the plumber is often ahead). The brain surgeon has licenses, insurance, and office costs, although materials and OR costs are usually borne by the hospital.

I think people make decisions that are not purely financial. Some people are just not cut out for plumbing, and others are not cut out for brain surgery.
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Old 09-25-2013, 03:00 PM   #43
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Join Date: Jul 2013
Location: Altha
Posts: 161
Location: NW Florida {in the sticks}
Size: 2632 sq ft on a forty acre lot
FIREd: 3 years, 3 months and 5 days to go for DW. A good while longer for me

Monthly Averages

RE Taxes: $185 {house, 40 acres, two barns, a smaller shed, pump house}
Electricity: $185
Water/Sewer: N/A {we have a pump and septic tank}
Gas: N/A
HOA: N/A
Yard Maint: $50 {I mow six and a half acres of front yard so I bought a 6' RFM for $1500/60 months=$25 per month + fuel, blades and belts}

House Ins: $110
Flood Ins: N/A
Pest Bond: $12
Umbrella: N/A

Other Variables:

Dish TV: $80
Phone & Internet: $75
Cell Phone: N/A
Newspaper: N/A
TV Guide and other Mags: $10
Cleaning Lady: $120
Pest Service: $20

Auto Insurance: $55 {13 Camry, 05 Prius and 98 Tacoma}

House Maintenance: $25 {house is only ten years old. No big repairs yet}

Gun for my Birthday: $25 {my gun collection does take up a sizable part of the house}

Total: $929/month, or $11148/year.

Edit: I forgot trash. This changes everything.

Trash Pickup: $14.50

New Total: $943.50/month, or $11322/year
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Old 09-25-2013, 03:03 PM   #44
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Join Date: Apr 2012
Location: San Diego
Posts: 8,809
I'll play....

Location: San Diego
Size: 2800sqft - but this is two units. Our house is just under 2100sf, we built a granny flat for the inlaws - and now rent it to a niece. (Brings in $12k/year - more if we rented it at market rate - but it's family.)
FIREd: Nope.

RE Taxes: $258 (Was cheaper before we built granny flat. Hello prop 13!!!)
Electricity and Gas combined: $100(Heat, hot water, cooking... one bill.)
Water: $50 (Includes Sewer)
HOA: n/a
Yard Maint: Sweat only. We do our own work... and make the kids pull weeds to boot.

Home Ins: $90 (Home & Contents AND coverage for granny flat.)
Flood: NA (we're on top of a hill)
Pest Bond: NA
Umbrella: $20

TOTAL: $518

Some Other Variables:

Cable & Internet: $122 (And I'm about to fire time warner since they just jacked the rates)
Phone (ATT) $34.60 - (about to switch to voip, ooma, or bluetooth gateway.
News Paper: NA
AAA $7
Auto Insurance: $90 (two cars. Anticipate it going up in a few years when kids start driving.)
Maintenance: $100 (Estimate Over 5 Years). That's the Home Depot/Lowes/Dixieline column in Quicken.

(We do most everything ourselves. This does not include capital improvements like our new kitchen counters, new windows, etc. We're in a spending mode - trying to get it all upgraded before we retire.)

Net we're about break even. Tenant (in the 700 sf house) pays us enough to cover our home expenses. If we charged market rent (about $400 more/month) we'd be banking money.
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Old 09-25-2013, 03:12 PM   #45
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Join Date: Jul 2007
Location: ST LOUIS
Posts: 993
1300 sqft here in MO
RE Taxes: $167
Utilities: $250
HOA: 0
Yard Maint: $10

Home Ins: $70 (Home & Contents)
Flood: na
Pest Bond: na
Umbrella: na

TOTAL: $497

Some Other Variables:

Internet: $20
Phone $35
News Paper:na
AAA na
Auto Insurance: $42
Maintenance: $150 (Estimate Over 1 Years)
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Old 09-25-2013, 03:28 PM   #46
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Join Date: Apr 2012
Location: Delta
Posts: 137
Location: NW Ohio (Summer Home)
Size: 2,400 sqft
FIREd: Yes
RE Taxes: $233
Electricity: $75
Water: 0 (have our own well)
Gas: $100 (Propane)
HOA: 0
Yard Maint: 0
Home Ins: $75(Home & Contents)
Internet: $54
Phone $120 (two cells)
Garbage pick up: $17

Location: Gulf side of Florida (Winter home)
Size: 400 sqf not counting Florida room
No taxes, lot rent is $278
Elec/sewer $11
Propane $10
Internet $80
Cell Phones remain the same $120
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Old 09-25-2013, 03:38 PM   #47
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Join Date: Feb 2010
Location: Northern Kentucky
Posts: 8,601
Location: Southern Ohio
Size: 1,800 sqft on 2.5 acre lot
FIREd: Yes

RE Taxes: $273
Electricity: $194 (no gas, total electric house)
Water: $10 (Includes Septic inspection)
Home Ins: $71 (Home & Contents, includes earthquake)
Umbrella: $19
Phone & internet: $73

TOTAL: $640

Notes:
Heat might be on the low side because we use the fireplace a lot in winter and the property affords an unlimited quantity of firewood at no cost.
Trash and recycling are paid by the township, so are included in property taxes.
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Old 09-25-2013, 04:26 PM   #48
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Join Date: Jul 2007
Location: ST LOUIS
Posts: 993
Quote:
Originally Posted by FIREd View Post
Current Home (rental high-rise apartment):

Location: San Francisco
Size: 1,100 sqft
FIREd: Yes for me, DW still working

RE Taxes: N/A (if we owned this condo, RE taxes would be ~10K/year)
Electricity: $91(all electric heating included, no A/C)
Water: $85 (Includes Sewer)
Gas: N/A
HOA: N/A (if we owned this condo, HOA fees would be ~$800 a month)
Yard Maint: N/A (no yard)

Home Renters Ins: $28 for contents and liability (not sure how much home insurance would be on a condo like this).
Flood: N/A
Pest Bond: N/A
Umbrella: N/A

TOTAL: $204 as renters or ~$1837 + home insurance if we owned

Some Other Variables:

Cable & Internet: $238 (premium package, phone included)
Phone (Vonage) N/A
News Paper: N/A
AAA N/A
Auto Insurance: $128 (2 cars, low annual mileage)
Maintenance: N/A



We do not plan on staying here once DW retires however. Since we already own our retirement home and lived in it in the past, I can also share that information:

Location: Northern Alabama
Size: 2,500sqft

RE Taxes: $104
Electricity: $135 (AC & Heat)
Water: $40 (includes sewer and trash collection)
Gas: N/A
HOA: N/A
Yard Maint: N/A (I do all the maintenance myself)

Home Ins: $86 (Home & Contents)
Flood: N/A
Pest Bond: $25
Umbrella: N/A

TOTAL: $390

Some Other Variables:

Cable & Internet: $162 (premium package)
Phone (Vonage) $33
News Paper: N/A
AAA N/A
Auto Insurance: $91
Maintenance: $310 (based on actual spending over 8 years of ownership - new roof, new A/C, new paint job, etc...)
Just curious what is your rent in San Francisco?
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Old 09-25-2013, 04:38 PM   #49
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Join Date: Apr 2011
Location: Castro Valley
Posts: 400
Location: Castro Valley (SF Bay Area)\
Size: 2050 sqft
FIREd: Yes

RE Taxes: $440
Electricity: $100
Water & sewer: $75
Gas: $25
HOA: $45
Yard Maint: 0
Home Ins: $100
Flood: N/A
Pest Bond: N/A
Umbrella: N/A

TOTAL: $785

Some Other Variables:

Cable & Internet & Phone: $160
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Old 09-25-2013, 04:53 PM   #50
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Location: Eastern WV Panhandle
Posts: 16,537
Quote:
Originally Posted by rodi View Post
... and make the kids pull weeds to boot.
That brought back some memories. I tried the tactic of calling it slave labor and a violation of the child labor laws.

No dice.
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Old 09-25-2013, 04:57 PM   #51
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Join Date: Nov 2010
Posts: 241
High cost suburb in Ohio
Both H and W Retired
2100 square feet
Average monthly costs:

Natural gas $ 53 Water and Sewer $ 56 Electric $ 100 Contingency and Capital $ 250 Home maintenance $ 325 Insurance - Home $ 100 Phone/Cable/Cell/Internet $ 380 Property taxes $ 500 Total: $ 1,764
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Old 09-25-2013, 06:48 PM   #52
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Join Date: Apr 2010
Posts: 1,685
In Canada, it was costing us about $1150. a month to turn the key...all in including insurance per month. Large house 3600 sq feet of finished space.

We really noticed the difference when we sold and travelled for nine months. That $1150. per month, plus the interest on our home equity helped to defray our travel costs.

We are now down to $1800. rent plus $200. in utilities and communications. Not certain what is next...but it won't be a house.
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Old 09-25-2013, 06:49 PM   #53
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In Canada, it was costing us about $1150. a month to turn the key...all in including insurance per month. Large house 3600 sq feet of finished space.

We really noticed the difference when we sold and travelled for nine months. That $1150. per month, plus the interest on our home equity helped to defray our travel costs.

We are now down to $1800. rent plus $200. in utilities and communications. Not certain what is next...but it won't be a house. No more land lines, than is for certain.
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Old 09-25-2013, 08:17 PM   #54
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Join Date: Feb 2006
Posts: 4,836
Location: Massachusetts
Size: 3,300sqft (Two Family)
FIREd: No

RE Taxes: $525
Electricity: $20
Water: $70 (Includes Sewer)
Gas: $45
Heating Oil: $75
Home Ins: $100
Cable & Internet: $116
Mobile Phone: $65
AAA: $7
Auto Insurance: $76
Maintenance: $150

Total: $1249

I get $1200/month rent from downstairs so the nest cost is $49/month.
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Old 09-26-2013, 12:55 AM   #55
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Join Date: Sep 2012
Location: Albuquerque
Posts: 498
Location: Albuquerque, NM
Size: 2,600sqft - Not retired, plan to relocate and downsize after retirement
FIREd: No


Costs are per month:
RE Taxes: $345
Electricity: $80
Natural Gas: $100
Water/Sewer/Trash/Recycle: $100 (big lawn)
Yard Maint: $220/mo

Home Ins: $80

Cable & Internet: $195
Landline & Track phone $65
Pest Control: $20
Auto Insurance: $80
Housekeeper: $220
Maintenance: $60 (To date this year but planning to get outside trim painted before end of year)

Total: too much
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Old 09-26-2013, 06:54 AM   #56
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Join Date: Oct 2010
Posts: 113
Location: W. Ma.
Size: 1,700sqft on 1 ac.
FIREd: Yes

RE Taxes: $300
Electricity: $100
Water: $50 (Includes Sewer)
Gas/Oil: $200 (Heat and HW)
HOA: N/A
Yard Maint: $45, (do it myself but it still costs)

Home Ins: $40 (Home & Contents)
Flood: n/a
Pest Bond: n/a
Umbrella: n/a
Water $50


TOTAL: $785

Some Other Variables:

Cable & Internet: $30 (no cable)
Phone $40
News Paper: n/a
AAA (Good Sam) $10
Auto Insurance: $100
Maintenance: $625 (Based on the last 4 years records, don't have any for longer but expect it to drop drastically, I hope, now that the big stuff is done. Deck, Roof, and major re-landscaping, Chimney rebuild, replace driveway)
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Old 09-26-2013, 07:02 AM   #57
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Location: Historic Florida
Posts: 1,647
Quote:
Originally Posted by ABQ2015 View Post
Total: too much
Agreed especially RE Taxes!
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Old 09-26-2013, 09:34 AM   #58
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Location: Jacksonville
Posts: 345
Quote:
Originally Posted by ShokWaveRider View Post
For those who asked "What is a Pest Bond?". It is actually a "Termite Bond" in NE Florida and is an insurance policy against wood burrowing pests. Basically it insures against damage done by Termites and if so pays to repair the damage up to a ceiling amount. It also includes annual inspections and bi-annual treatments for Termites (In my case).

One important note is that if you buy a home here you can "assume" or transfer the policy for no charge and continue with the premiums. If you let it lapse it can get expensive to get a new one as the "whole" house will need to be treated INCLUDING under the slab which means they will want to drill holes in it to apply chemicals at regular intervals (NOT GOOD).
I also live in NE Florida. You show you have a termite bond @ $19.00 a month?

A REPAIR Bond?

If you don't mind me asking, which company are you with?

Thanks
Mike
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Old 09-26-2013, 10:22 AM   #59
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Location: Historic Florida
Posts: 1,647
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I also live in NE Florida. You show you have a termite bond @ $19.00 a month?

A REPAIR Bond?

If you don't mind me asking, which company are you with?

Thanks
Mike
Florida Pest Control, 1 payment per year ~$234 this year. Concrete Block Home. Stick would be more I am sure. (St. Augustine)
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Old 09-26-2013, 10:31 AM   #60
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Location: Jacksonville
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Florida Pest Control, 1 payment per year ~$234 this year. Concrete Block Home. Stick would be more I am sure. (St. Augustine)
I pay $128.00 a quarter. It covers eveything under the sun to include Carpentar Ants and Carpentar Bees. Total home repair/replacement included.

Most people are under the impression that having a current "termite bond" means that their home will be repaired in the unlikely event they get termites, and that is just not true.

I got this policy after I saw with my own two eyes what damage termites did to my brother's 4 year old home here in NE Florida. I sleep well at night!!

Mike
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