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MrsS1976
LIF Adolescent
Member since 5/11 534 total posts
Name:
M
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Re: other than your mortage/taxes
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Posted 12/2/11 12:56 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: other than your mortage/taxes
Posted by MrsS1976
Posted by Blu-ize
I have all of my policies with multi discounts and clean record..new cars..full coverage collision. I pay double for each of my cars than you pay. How much is that employee discount?
I dont have full cover on any of the 4 cars. Its basic collision - and I have the minimum coverages on pretty much all of them 3 of those cars are DH's old beaters (76 Mustang, an 88 sedan, and a 98 Grand Prix). Actually I think the 76 Mustang isnt even on the policy- since it qualfies as an Antique type car so I gotta ask DH about it - so it may only be for 3 cars, not 4. My 2008 Honda isn't full coverage either, I dont think I even have rental insurance on it. All I know its $850 for 6 months or something low like that..I love my job because we get awesome perks like auto insurance discounts, Verizon discounts, and 5 weeks vacation..lol..
Agree w/ the above about "throwing away money on rent" - it really depends on your situation but when I was growing up, my parents always pressured me to buy first instead of renting (which I ended up doing when I finished grad school). The only crappy part is that I put down only 3-5% on my property before the 2008 crash and I am underwater on my apt.
Here is another message on City-Data forums about being a First Time Home Buyer:
http://www.city-data.com/forum/mortgages/1439210-want-first-time-home-buyer.html
ah, ok basic liability. No collison. That makes sense.
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| Posted 12/2/11 1:04 PM |
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pjc92980
LIF Infant
Member since 9/11 198 total posts
Name:
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Re: other than your mortage/taxes
DH and I just sat down and did this last weekend...we were depressed with our outcome! but here goes:
car pay - paid in full, but pay out of state insurance
gas/heat - approx $350 a month
cell phones - 70 family plan
electric - estimate $200
cable/tv/internet - first year bundle is $100, then jumps to close to $175 the next year
home insurance - $125
water - about $40 a month (on the high end)
also something to keep in mind; when you calculate your mortgage payments based on the current rate and your down payment, if you dont put a certain percent down you have an additional PMI payment to make each month (which can be like $100 or more a month). You also have the taxes to pay which on LI can be close to $700 a month
Other things DH and I had to consider - his commute cost would go up (live near the subway now but would need to pay for LIRR if moved out of queens).
after i sat down and did these calculations, DH and i thought we could actually manage it if the house was a certain price.
Then we realized that we want to start a family soon...and that would mean a child in daycare bc we cant afford one of us to stay home...so thats another $1000 a month, plus the expensse of a baby (clothing, diapers, food, etc).
I also dont know how common this is, but 2 people just told me this past week they got letters stating their taxes went up...one was $100 a month and the other was $220 a month!
its really overwhelming (and depressing) to see all of this (at least for us it was bc of our incomes). But i am glad we thought of every detail before it was too late!!! We out buying a house on hold and will focus on starting a family...and when the time is right we can look into a house.
if you are looking to rent you only have rent, cable, electric (heat and hot water included which is a huge savings). you also have enters insurance which is less than home owners
Message edited 12/2/2011 4:27:12 PM.
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| Posted 12/2/11 3:53 PM |
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peanutbutter2
Carpe diem!
Member since 11/10 5287 total posts
Name:
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Re: other than your mortage/taxes
It's really, really going to depend on different types of packages that you have, but this is how ours breaks down (aside from mortgage and taxes):
Gas- $200
Groceries - $360
Credit cards
Student loans
Electric - $88
Cable - $230 (we have a huge plan though...)
Car Insurance
Landscapers
Cell phones
Cat food
I didn't put down the amounts for things that would obviously significantly vary by person/things that not everyone would have (cat food).
Whoops! I forgot water...I'm not sure how much that actually is though.
Message edited 12/2/2011 6:48:37 PM.
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| Posted 12/2/11 6:47 PM |
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KennysMommy
Never knew LOVE like it before
Member since 3/10 2640 total posts
Name:
Danielle
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Re: other than your mortage/taxes
DH and I both work F/T and have DS in daycare. We NEED both salaries to pay all our bills....
car pay = $850 (2 cars currently being financed but we'll own them at the end.)
gas = about $150/week for gas for both cars
food = $150/week
car ins. = $160/month
cell phones = $165/month for both
student loans = $500/month
electric (how much???) = $110/month (balanced billing)
cable/tv/internet(we'll do a bundle..100/mo) = $125/month
home insurance (???) = $1700/yr (it's tied in with our mortgage/taxes though...)
water(???) = $25/month
oil (????) = $150/month for natural gas (heating/cooking)
You left off other expenses like healthcare, clothes, toiletries, diapers, general spending money, childcare costs (daycare), and whatever else life throws at you.
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| Posted 12/2/11 9:37 PM |
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KennysMommy
Never knew LOVE like it before
Member since 3/10 2640 total posts
Name:
Danielle
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Re: other than your mortage/taxes
Posted by pjc92980
You also have the taxes to pay which on LI can be close to $700 a month
If you're only paying $700 a month for taxes on Long Island, you're LUCKY!!! People are paying double, triple, and quadruple that!
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| Posted 12/2/11 9:40 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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Re: other than your mortage/taxes
We pay $150 for electric
185 for cable with phone
Cellphones are 150 per month
Heating we have oil - no contract so we just buy when we need it - about 1500 per year but that is cheaper than most
Water s cheap, like 30 bucks quarterly
Car insurance 1600 a year
Then food and gas maybe 350 a month
Homeowners ins and taxes are included in the mortgage
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| Posted 12/2/11 11:41 PM |
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Blazesyth
*yawn*
Member since 5/05 8129 total posts
Name:
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Re: other than your mortage/taxes
I did the calculation on oil last week - one fillup is going to be ~900 bucks. 
So budget for more gloves, hats and scarves. 
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| Posted 12/3/11 8:40 AM |
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browneyes
All moms are working mothers!
Member since 8/08 4311 total posts
Name:
Super Mom
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Re: other than your mortage/taxes
our monthly bills to run our house are
Cable- triple play from IO -basic cabel with 1 dvr box- $150.38
Electric- Varies each month i would say for our 1400 sqft home it averages $110
Oil- we get 100 gallons every 2 months its about $360 (again this variers)
Gas- Only used for our stove- we get a delvery every 6 months and its never been more then $50.
Water- Every 3 months and it varies the highest is in the summer and it was $105
other then house bills you'll have cell phones, car insurance, school loans. health care and then basic care of ur house, lawn car and such.
Taxes & homeowners in rolled in our moragae so i dont pay that monthly but our homeownes is $1000 for the year i beleive and taxes ate $6500 a year.
Hope that helps you.
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| Posted 12/3/11 9:23 AM |
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gdubs
This baby is awesome!
Member since 11/10 2467 total posts
Name:
Gina
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Re: other than your mortage/taxes
Posted by lovemyfamily88
Posted by evrythng4areason
thanks everyone
we've been lucky to live with our parents, because it means we haven't "thrown away" money on an apartment or rent
How is renting throwing away money??? You are paying for a place to live! I rented for years and never felt that way. Some people don't have the luxury of living with their parents. I always felt proud that I was on my own and living without help from anyone.
I think it is too... you're paying for someplace to live that you'll never own. There is no return on that investment. I rented in between selling my first house and when my second house was ready and every time I sent that check to the rental company I felt I was wasting money. I'd rather spend twice as much and pay my mortgage every month.
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| Posted 12/3/11 9:42 AM |
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lovemyfamily88
LIF Adolescent
Member since 5/10 641 total posts
Name:
????
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Re: other than your mortage/taxes
Posted by gdubs
Posted by lovemyfamily88
Posted by evrythng4areason
thanks everyone
we've been lucky to live with our parents, because it means we haven't "thrown away" money on an apartment or rent
How is renting throwing away money??? You are paying for a place to live! I rented for years and never felt that way. Some people don't have the luxury of living with their parents. I always felt proud that I was on my own and living without help from anyone.
I think it is too... you're paying for someplace to live that you'll never own. There is no return on that investment. I rented in between selling my first house and when my second house was ready and every time I sent that check to the rental company I felt I was wasting money. I'd rather spend twice as much and pay my mortgage every month.
When I was renting I was able to put away a lot of money that I invested so there was a return on my money. I feel that the money I now pay for taxes, insurance and intrest is "throwing away" money.
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| Posted 12/3/11 2:14 PM |
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MrsS1976
LIF Adolescent
Member since 5/11 534 total posts
Name:
M
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Re: other than your mortage/taxes
bumping
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| Posted 5/30/12 12:54 PM |
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SpiceGirl
Dream big
Member since 1/06 2486 total posts
Name:
j
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Re: other than your mortage/taxes
Posted by gdubs
Posted by lovemyfamily88
Posted by evrythng4areason
thanks everyone
we've been lucky to live with our parents, because it means we haven't "thrown away" money on an apartment or rent
How is renting throwing away money??? You are paying for a place to live! I rented for years and never felt that way. Some people don't have the luxury of living with their parents. I always felt proud that I was on my own and living without help from anyone.
I think it is too... you're paying for someplace to live that you'll never own. There is no return on that investment. I rented in between selling my first house and when my second house was ready and every time I sent that check to the rental company I felt I was wasting money. I'd rather spend twice as much and pay my mortgage every month.
I think if you need a place to live and you're not ready to buy a house for whatever reason...renting is a great option. I WISH I had rented longer instead of buying a house when I did. I was still saving money while renting - probably more than I could save while owning a home. Plus...home values just keep dropping. It will take 15+ years for the prices to come back up to where they were...heck, maybe never!
Nothing wrong with living at home for free either.
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| Posted 5/30/12 1:23 PM |
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