Retirement Housing Expense to Budget

[Omalley]

No mortgage. Expected expenses are 14% of budget. Maintenance accrual is another 2%

 

[Lazarus]

I have maintenance records going back 15 years which include replacing roofs, AC/Heating system. Carpets, floors, painting. Plumbing and electric repairs ext.

I find that the annual maintenance is 2% of my house purchase price or about 3% of its present value.

Property tax is about 4% of present house value.

I do not count tv and internet and phone as part of the housing costs.

 

[dmdunca44]

In our 5th year of retirement. Mortgage payment (yes, we still have a mortgage), taxes and ins total 17% of our net income. If we add utilities, it's about 22%.

 

[accountingsucks]

For me

Prop tax - 2800
Insurance - 600
Utilities - 2600

Total - 6000 Mortgage paid off

Total expenses in year about 24,000 so 25% of total budget not including maintenance. Yikes but is what it is in these neck of the woods

Maintenance has been virtually nothing to a high of 6K this year with roof replacement. For long term budgeting I would say 1% of home value or $3500 in my case is reasonable. I am not handy and can't do much of anything around my house.