What's your basic housing expenses after retirement (excluding electric, gas. water)?

[jollystomper]

Mortgage just over $600/month (I pay a little extra to round it up), at this rate paid off in 8 years.

Current annual property tax is $4700 (almost $400/month).

Current annual home insurance is $1200 ($100/month).

 

[ls99]

Bought house for cash 200K +change, about 12 years ago. I don't keep track of operating expenses. Taxes are aound 4K/yr. It is all brick, no outside maintanence required. Had 50yr roof put on about 5 yrs ago. Since early last year I pay a guy to cut grass as needed.

It is a long way from a 3 room house I grew up in, no indoor plumbing, concrete floors, zero insulation, coal cookstove. An underground cellar where my parents lived during the 44/45 war, later for refrigeration, house was partialy blown away by Russian tank rounds.

Given current mayhem, good to live in a tiny town.

 

[PaunchyPirate]

NW Pennsylvania small city living
No mortgage since early retirement
Property Taxes approximately $5000/year ($417/month)
Electric/Gas/Water/Sewer/Trash/Internet/Cell Phone approximately $350/month
Homeowners Insurance $825/year

 

[Midpack]

Not sure how useful comparing is, there will always be others with (much) higher or lower budgets. But FWIW:

No mortgage
Prop tax $3985/yr
Insurance $1022/yr
HOA $880/yr

You asked us to exclude electric/gas/water and you didn’t ask about lawn care, pest control, security systems, garbage, system/appliance services or routine costs?

Of course the non annual recurring costs like periodic roof replacement, repainting, remodeling, furniture/HVAC/HW/appliance/laundry/window replacements are (way) more than prop taxes/insur/HOA.

 

[Souschef]

We live in a + 55 MHP. Space rent includes utilities is about $850/ month. Taxes are about $250/yr as we transferred DW's assessment to this house. Insurance is about 50/mo.

 

[Doribe]

No mortgage
Property taxes, $14,000/year
Insurance, 1,500/year
no HOA

$1,292/mo

I'm in a high tax location so I'm not sure how anyone would compare who lives in a low tax area.

 

[IMATERP]

No Mortgage! 1500 Sq ft home

Property Tax = $300 month
HOA fees = 201. Month
Ins. =. 33 month

Total $ 534 Month

 

[swakyaby]

California, MCOL area:

Property tax $9,608
Home insurance $1,412
HOA dues $900

So monthly expenses = $993

 

[target2019]

1) $1,000
2) $90
Monthly costs

 

[kimcdougc]

Washington State MCL

Mortgage $1,500 per month which includes property tax of $333 per month (can pay off at any time).
Home Insurance $125 per month (includes earthquake).
No HOA
$1625 per month

 

[gayl]

272 property tax
94 homeowners insurance
196 earthquake insurance
------
562
Net income of 2689 covers that with 1k set aside for travelling.

 

[Gumby]

No mortgage/No HOA

Property tax = $12,260 per year
Homeowners Ins. = $3,069 per year
Umbrella Ins. = $614 per year

Total: $15,943 per year

 

[Offgrid Organic Farmer]

What's your basic housing expenses after retirement (excluding electric, gas. water)?

We have no mortgage.

Our property taxes run $850/year for our home and 150 acres of dense forest.

We have no home insurance.

There are no HOAs in our town.

Our annual heating costs have been $700/year.

We live in the state with the oldest average age of residents and the highest percentage of retirees.

$129/month.

 

[Arizona1]

We’ve been living in a big motorhome following the weather for about 20 years now.
Paid off so no mortgages
Average monthly rent including utilities, trash, and internet $10,000 year
Registration $300 year
Insurance $700 year
$916 a month

 

[rk911]

RE taxes ~ $7K, insurance ~$1600, all utiiities inc elec/gas/water/sewer/cell phones/garbage/comcast triple pkay/netflix/prime video = an avg of $725 p/m. taxes and ins. pd annually. no mortgage, paid that off shortly before retirement. no consumer debt whatsoever. all vehicles paid for. still practicing LBYM.

 

[FlaGator]

P+I = $1,650/mo
Taxes = $3,200/yr
Ins = $2,400/yr

Gave up the lawn tools when I moved, and that's another $150/mo. to have that maintenance done. Utilities, in total, are little less than the old place at $300/mo.

Former residence in SoFla was paid off, but decided to hang on to cash and put just 20% down on the more expensive place in the Panhandle. Living within a mile of the beach has it's price compared to being 10 miles away in SoFla. But it's all in the budget, and the long term financial plan

 

[cyber888]

Paid cash for our home 15 years ago, property tax and insurance $135.50 a month. What do I win?

You almost win, but Organic Farmer has a lower monthly cost

 

[1242Vintage]

Living basically mortgage free for the last 1/2 dozen years. I say basically because we have a Home Equity line of Credit with zero balance due. We use the HELOC to level out major expenses, like last years kitchen remodel.

HOA: $20/month
Property Tax: $500/month
Homeowners Insurance: $300/month

Pre-retirement we looked at moving to a smaller home to reduce costs. However we have been in our house for 20+ years and property taxes are indexed to initial purchase price with a modest annual escalation percentage. Buying a smaller home would actually increase our property tax.

 

[arky]

$350/month total for property taxes,HOA fees and insurance.
Throw in another $100/month on average for maintenance (painting, etc.).
No mortgage since 1993.

 

[Tom57]

No Mortgage, bought for cash in 1999
RE tax $210 per month Zillow says house worth $423,000, Nevada capped RE tax
HOA $49 per month
Home owners insurance $40 per month

 

[Cobra9777]

Small suburban town in North Texas. Home is 4.5K ft2 on 2.2 acres with a pool and shared 10-acre lake. Zillow estimate is $650K.

No mortgage and no HOA.

Property tax is $12.5K/yr. Insurance is $2.1K/yr (excluding umbrella). Total $14.6K/yr or ~$1200/mo.

Texas property tax tends to be high at around 2.0-2.5% of assessed value. But we have no state income tax. So, not sure how comparable that is for those of you in other states. Insurance is high in this area due to frequent hail damage to roofs.

Umbrella is $475/yr for $1M, but that includes a rental house and 4 cars. It's also high on the main house due to the pool and lake.

It's a very old house so repair and maintenance is extremely high. We have a healthy backlog of maintenance projects but we schedule things so that it averages about $6K/yr.

All in, including utilities and home improvements, it's typically $25-30K/yr.

 

[gayl]

Enlightening thread. I'm discovering that there's very few areas I could afford to move to

 

[Poopycat]

Currently, in Cincinnati, property tax is $180/mo and property tax is $170/mo and property insurance is $70/mo. No HOA, which is heaven.

However, I’m getting a tax abatement because new houses get lower property taxes for 10 years. After next year, property taxes would go up to $1,000/mo. But I will be long gone by then, with any luck. Of course, I might be in TX, where both my property tax and insurance were very high...

 

[Golden sunsets]

Property taxes of 4000 a year on a million $ home.
Mortgage free since 2008.
Around 600 for insurance.

Wow. Stunningly low Prop Tax vs home value.

 

[Cobra9777]

Wow. Stunningly low Prop Tax vs home value.

Insurance too. As a percentage of value, it's more than 5X lower than mine.

Same 5X difference on property tax, but with prop 13 in California, the property tax may be understandable. Not sure I understand $600/yr for insurance on a $1M house.