Budgeting

How do you figure out what your bills will be for a home you don't own yet?

I'm interesting in crunching numbers and making sure aren't biting off more than we can chew.

Like electric, water, gas, oil...can anyone give me round abouts to how much it would cost in a house?

We currently live in an apartment. Our electric is about $89. We don't have to worry about gas or oil, so it's a mystery to me.

TIA

Re: Budgeting

For us, purchasing a house basically doubled what we were paying in rent and utilities if that makes sense....

You need to factor in taxes, insurance and the 101 things that can come up at any given time when you own a home.

Re: Budgeting

my #'s are based here in PA so i would figure NY / LI is a little higher but not much:

Oil is 3.89 a gallon right now and we have a 275 gallon tank. We just had a drop of 120 gallons so my oil bill is over $400; granted its been a warm winter so im not using as much and my delivery is probably not for another 5 weeks.

Electric: varies from $95-$120 a month off summer; summer its as high as $150; this is also using a competitor to PECO with lower rates.

Water: $80-$100 every 3 months; summer is usually towards the $100 mark;

then there are landscaping costs (and if you're buying a home you'll need all the power tools to go with that..mower, whacker, etc.)

property taxes in Bucks county is going up; my school taxes went up. Compared to NY its still low, and its figured into our mortgage payment, along with insurance.
So I cant really compare that for you.

Re: Budgeting

we just did this..a lot of people gave me grief on here bc we live at home, but we figured we did the best we could to budget, then have extra money if we need it..if not it will go to savings/paying off student loans early

mortgage/taxes/pmi/insurance: 3k/month
electric: 150/month
water: 30/month
gas: 250/month
cable/phone/internet: 150/month

we have cells: 170/month for both of us
car insurance: 235/month for both of us
student loans: idk

car will be paid off the day we close

we're left with about 1200/month for food/gas/savings/going out

these are approx. numbers bc my bf does all the finances

we don't have to worry about snow/landscape/house cleaner/daycare or anything, bc he truly enjoys the outside stuff (hence the gigantic property we bought), and if we did have children (which we hope to in the next 3 years), either of our parents would provide the support we need, so there will be no daycare costs

hth!!