it sounds like one of my favourite dishes which i refer to as "bung it in all in the pan yeahhhhh". ahhh the quirks of language eh?
Off the top of my head: Mortgage: $1100 / month Car Payment: $551 / month Property Taxes: $500 / month (about $6000 a year) Groceries: $600 / month (wife and 2 kids) Phone $40.00 Mobile Phones: $80.00 (for me and my wife - I use like 20 minutes a month) Heat $80.00 Cable TV / modem: $100.00 Electricty $150.00 Car insur $150.00 Home Imnsurance: $200 / month Gas $210.00 Gifts $100.00 Dining Out $100.00 Household $125.00 Water $70.00 Entertainment $100.00 Clothing $125.00 Haircuts $50.00 Yard $75.00 Medical Ins $260.00 Recreation $200.00 Trash $8.00 Subscriptions $20.00 Charity $100.00 What does that total?
How can you pay $6000 in property taxes. My mortgage is 50% higher than yours and I just pay $175/month in property taxes and I live in a close-in DC suburb. Either your've got a serious, serious assessment or some totally messed up property tax rates. Sachin
The home insurance seems other-worldly too. Do you live in a flood plain or something? I cannot believe that home insurance would be higher than car insurance. $600/month for groceries is pretty amazing too. I think ours is more like $250 plus maybe another $100 for Healthy and Beauty and we hardly ever eat out (only 2.5 of us right now, though). I wish that we could get by with $100 in gifts. If I annualize what we spend on gifts - it would make me cry. Probably more than $2000 if you consider Christmas. And we don't even have any kids yet. Here is my best guess for our household (per month): Mortgage: $750 Groceries: $325 Car Payment: $0 Car Insurance: $120 (Amica is great if you have a good record - esp. considering how high SC rates are for couples in their 20s) Home Insurance: $35 Telephone: $40 Cellphone: $40 DSL: $40 Cable/Satellite: $0 Water: $50 Power: $85 Charity: $500 (we tithe - 10% of salary - to church plus the typical odds and ends) Haircuts: $20 Dry Cleaning: $30 Dining: $75 Clothes: $50 (see entertainment) Gas: $100 Postage: $15 Gifts (inc. Christmas): $185 Cars: $50 Pets: $20 Entertainment: $75 (we use side jobs to fund most of our habits)
well since I live with the rents still I have almost no expenses: rent: $100 mobile bill: $45 and thats about it. I've gone a little crazy with my credit card lately because I have money laying around, its usually $600 a month. I pay it off in full every month. my low expense life style will end May 1st when i move into the city and live off my own money for a change
I think Northside Rovers lives in Austin, TX. Texas does not have an income tax, but we have very high property tax and sales tax. The home insurance that he listed seems excessively high. I live in Austin and pay slightly more property tax than him, but I pay only ~$68 per month for my home insurance. He must have very valuable stuff in his house!!!
I don't see whats so outrageous about a $6000 property tax? Ours hovers in the mid 5000 range. Using someone mortgage payment to estimate taxes can be faulty since one would not know how much equity they already have in the home Andy
No Income Tax in Texas ....yet. I paid like $3700 last year for school taxes alone. Plus Various Community College and property taxes and whatever else. I bought the house for $176,000 total in 1996 - financed $160,000. Re-financed twice, most recently 2 years ago to a 15 year mortgage.
Less than I make. Mortgage = 1470 Condo fee = 175 Food and sundries = 300 ( just two of us ) DirecTV/DSL/cell = 150 Clothing = 100 - 150 Car Ins = 125 Car maintenance = 50+ Gasoline = 150 Electricity = 80 - 100 Personal grooming ( wife ) 50 Personal grooming ( me ) 10 Property tax = 300 Entertaining = 150 Music + books = 150 Charity = 15% of gross Savings = 500
You live in Massachusetts, though. Everybody knows you are going to have super-high taxes there. And as far as the amount of equity in the home, I thought that it was customary for the homeowner to pay all property taxes (usually via an escrow account managed by the mortgage company). That is how it is in our case, in any event. There is no formula for breaking it down on an equity basis.
So your property taxes don't pay for the public schools? You have to pay a separate tax for schools and stuff?
That is not what I was saying. I was saying that a mortgage (the part that is the loan only, not the taxes or insurance in escrow) should not be used to determine how much ones property taxes are. I had a very small mortgage because we put down a large down payment. My taxes however are still high. Because of the homes value? Andy
When I last refinanced, I opted NOT to pay into an escrow fund and pay the taxes and home insurance by myself, once a year. I paid 3 property tax bills in January. One for schools $3700 and two others for $1700 and $700 each. The two smaller ones come from the county and combines stuff into one bill: local community college tax and stuff.
I see, thx for sharing. Is your property tax calculated against the actual value of your house every year or it like mine where they calculate it against the actual value of your house the first year and then just multiply the value of your house by 1.05 (i'm not sure if it's 5 percent but it's much lower than the actual rate of my house's appreciation) to calculate the following year's property tax?
I live in un-incorporated Williamson County - just outside Cedar park City Limits. But I get to pay Travis County Taxes for ACC, Leander ISD taxes and whatever Williamson Co. bills me for. My property tax fluctuates year to year - it actually went down 2 years ago as my appraiased value dropped. I think it stayed the same for 2004.