How much do you spend on your home?

[gamboolman]

No Mortgage - but one of higher cost of living counties / area's in Texas

Home Owner Taxes and Insurance(s) in Spring, Texas $950 Per Month

Home Repairs Budget $350 Per Month

Total $1,300 Per Month, $15,600 Per Year

In retirement, we are planning to eventually sell and move to lake house or build one. If not a lake house then buy/build on some rural property - almost certainly in Texas

 

[misty57]

$300/mo. Property taxes, insurance, and annual HOA.

We purchased our home in 2015, cash. It was a brand new spec home so maintenance is almost non-existent - a little stain and/or paint touch up on the deck and deck railing.

This is in comparison to the home we sold in CA where our expenses were $2500/mo.

 

[mexexpat]

2 homes, no mortgages. FMV each home is about equal but MX home is larger with a pool; both houses 1 block from large body of water).

Florida home:
Taxes: $ 258 per month ($ 3100 a year)
Insurance: $ 333 per month ($ 4000 a year incl. FEMA $ 450 annual flood insurance)

Mexico home (in US dollar equivalents):
Taxes: $ 20 per month ($ 240 a year)
Insurance: $ 18 per month ($ 220 a year including flood coverage)

 

[SmallCityDave]

2 homes, no mortgages. FMV each home is about equal but MX home is larger with a pool; both houses 1 block from large body of water).

Florida home:
Taxes: $ 258 per month ($ 3100 a year)
Insurance: $ 333 per month ($ 4000 a year incl. FEMA $ 450 annual flood insurance)

Mexico home (in US dollar equivalents):
Taxes: $ 20 per month ($ 240 a year)
Insurance: $ 18 per month ($ 220 a year including flood coverage)

Wow that's awesome, would you care to share any details about this home and your experience with owning in Mexico?

 

[Unpaintedhuffhines]

Monthly costs
Mortgage(s): $2,300
Taxes: $960 (doubled in last 5 years)
Insurance: $110
Budget for upkeep: $150

 

[mexexpat]

Wow that's awesome, would you care to share any details about this home and your experience with owning in Mexico?

We owned a home in MX from 2008 to 2012 but sold it when we returned to US to care for my FIL. He died in 2015 (91 great years on the planet!). My husband was both successor trustee and executor and it took a year to finalize estate.

We returned to MX to househunt in late 2016 and bought our current home in early 2017. It was a rental for 10+ years (one set of renters) with an out of country owner....lots of deferred maintenance but good bones and stellar location.

We paid $350K USD and revamped the kitchen, added solar panels, brought electrical up-to-date, replaced lighting fixtures, ceiling fans and toilets, BA sinks (3). Also added a mirador (rooftop deck that gives us view of Lake Chapala). Our remodel cost was 6K plus 4K for the solar panels. Labor is cheap. The peso is/was at 20.5 (mas o menos) to 1 USD so our cost of stainless steel appliances (US maker or equivalent) were very low.

Our house is in the village of Ajijic, not in a gated community. We can walk to dozens of international eateries within 10-15 minutes. We go out to dinner nightly.

 

[jkern]

$650 per month for property taxes and insurance.

 

[SheitlQueen]

$225.58

Taxes $192.50
Insurance $33.08

I don't budget specifically for repairs, but I do have an emergency fund that such repairs come out of. So far the only repairs I have had in the last several years was a broken garage door that took $228 to fix and a clogged pipe that cost around $150.

 

[MoPops]

Not retired yet.. But it’s been paid for, for a while. Taxes are $4500 and insurance is $1500. I do my own mowing. Hopefully I’ll keep that up. I’m still going to budget $200/mo for upkeep and improvements. So I’m guessing it’ll be $700/mo to stay here. We are keeping a small farm up north of us. It’ll be about $100/mo to pay taxes and insurance after farm income. I’ve talked to DW about relocating elsewhere. Hasn’t been received well. Grandkids determine location for us.
We could downsize, but DW has very clear ideas about what abode she will live in. I’m thinking we could find a smaller home, but it wouldn’t save us anything. Won’t be taking many European vacations. But will get lots of quality time with the munchkins.

 

[PointBreeze]

$300/month goes into an account to pay real estate taxes, homeowner's insurance, and an umbrella policy.


I budget $5000/year for home repairs, but we generally spend much less than that, so it's getting saved up for the new roof and new driveway I know we'll need sooner rather than later.

 

[Pointby2]

HOA, Insurance and Property Taxes and lawn care are about $600.00 And at least another $200 a month in repairs and lawn care.

 

[The Cosmic Avenger]

Our house in the suburbs north of DC:

Expense	Monthly	Yearly
Property tax	388.05	4656.64
Insurance	95.17	1141.72
Lawn care	133	1600*
Cleaning	200	2400
Total	733.22	8598.36

*Of course there's no need to mow in the winter here, but we spend a few hundred in the spring and about the same in the fall for leaf cleanup/mulching/edging. Mowing is $50/month, I averaged the twice yearly work out. And we paid off our mortgage a couple of years ago, as I've mentioned in at least one other post.

 

[Floridatennisplayer]

Just taxes and insurance: $935 month.

 

[SmallCityDave]

Just taxes and insurance: $935 month.

Oh my!

 

[lakehawk]

Home Expenses

$100/month for taxes and $65 for insurance. Replacement value of home is $350,000. Taxes with a veteran's discount are low in Wyoming.

 

[Floridatennisplayer]

Oh my!

That’s for 2 homes.

 

[meleana]

Here is tax hell hole NY- rural area- we pay $825.00 per month Taxes
$88.00 per month Home Insurance
$16.00 per month Umbrella Insurance (auto and home)

$100 per month Repairs (budgeted)
TOTAL: $1028.00 per month


We do have to pay a guy to plow in winter $56.00 per month. I also put aside about $54 per month for the annual chimney cleaning, the annual boiler cleaning and the whole house generator check (every 3 years.)


Then there are utilities, oil for the boiler, propane for the whole house generator, firewood, the security system monitoring, garbage pickup, DirecTV and a ROKU channel subscription.




We have no mortgage or HOA fees.

 

[cyber888]

Mortgage: $1,032/month
Tax & Insurance: $337/month
Total: $1,369/month

Brick home .. maintenance free exterior .. approx. $400k 3,400 sq.ft. 5br 4bath

HOA: $60/month .. swimming pool, clubhouse, gym, tennis court, etc
Utilities: $240-$250. Electricity, gas, water.

Vacation 4 weeks Timeshare: $850 per year maintenance

 

[NameTaken2]

Annual:

$4,000 RE Tax
$ 900 Insurance + Umbrella (approx 50:50)



Normal maintenance normally <1K annually

Budget for infrequent renovations, new roof, etc.

 

[Archman]

We spend about $300 per month, just under $210 for taxes and insurance and budget $100 for repairs.


Please note this is not how much did you spend on your home also this does not include upgrades or updates.


Edit: So we are all talking about the same thing please do not include utilities. Just what you pay, if you pay a mortgage than that amount if it's paid off how much you pay for your taxes, insurance, hoa and please estimate how much you pay or budget for repairs (monthly).

Home insurance: $747/yr property tax: $2049.25/ yr

home repair: $335/yr (Oct 2017-Oct 2018)

 

[james22]

Downtown Austin studio condo:


Property tax $665
HOA $315
Insurance $20


$1,000/month

 

[Sittinginthesun]

Two seven figure homes. Taxes, insurance and maintenance cost just under 3% of annual income.

 

[SmallCityDave]

Two seven figure homes. Taxes, insurance and maintenance cost just under 3% of annual income.

Is this a riddle?

 

[RunningBum]

Is this a riddle?

I haven't figured out the riddle of what you're doing with all of this info.

 

[SmallCityDave]

I haven't figured out the riddle of what you're doing with all of this info.

I'm compiling all this information so I can use it against you.



I'm seeing how my budget/spending compares to others. Initially I thought that this forum would be full of budget minded people trying to figure out how to stretch every dollar.


Obviously if you don't feel comfortable discussing your expenditures don't but it's so interesting (to me) how much of a range we have of spending from people even when they have a paid off home.