How Much Does It Cost to Own a House in Richardson?? (Dallas: HOA, insurance)

[Winter2010]

Say the house costs $150K. With a 30 year mortgage, let's say the monthly mortgage payment is $750. Please let me know the cost for the whole month:

1) Mortgage Payment: $750

2) Insurance: ???

3) Lawn/Maintenance: $100

4) Property Tax: ???

5) Anything Else: ???

[ayahuasca_mike]

I think its a safe bet to budget for about 1500/month with property tax escrowed into the mortgage. Im not a homeowner so someone may want to chime in but that should be a ballpark figure based on purchases made by friends and family.

[escanlan]

Originally Posted by Winter2010

Say the house costs $150K. With a 30 year mortgage, let's say the monthly mortgage payment is $750. Please let me know the cost for the whole month:

1) Mortgage Payment: $750

2) Insurance: ???

Texas Department Of Insurance Rate Comparison Guide Rate Guides / Price Comparisons from the Texas Department of Insurance

3) Lawn/Maintenance: $100

Do you have children? Then this cost is obviously much, much higher!

4) Property Tax: ???

Dallas and Collin County Property Tax Assessor sites
Dallas Central Appraisal District
Welcome to the Collin Central Appraisal District


5) Anything Else: ???

Electric
Gas
Water
Trash pickup
Your costs to commute to your job location over that of living closer.

The costs are going to vary depending on the home. I have provided some links above to help you calculate the costs. Hopefully others can add to the information for the actual costs for items noted. My notes above in red.

[FarNorthDallas]

Electric bills can be huge. Also, HOA dues if any.

[lh_newbie]

$150K home w/ 10% down, 30-year @ 5.25% = about $750/month.
Taxes on $150K home = $3350/year, or $280/month.
Lawn Maint = $100-125/month
Insurance = $50-100/month - will vary quite a bit depending on who you go with, deductables, if you're in a flood plain, if you get mold insurance, etc, etc.
Utilities will vary. For example, a coworker and I have about the same size home, both built in the 70's, both single story, neither of us have a pool. Pretty much the same house on paper. Our June elec bill was $175. Theirs? $450. Why? We have a new, efficient air conditioner. Theirs is old... as in 20 years old... and we've upped our attic insulation as had about 2/3 of our old windows replaced (they were aluminum + single pane glass. Now dual pane, low-e, argon filled vinyl frames)

Don't forget about maintenance costs. I you were to budget for maintenance costs, I'd estimate you'd want to put $200/month in a special account that you only touch for REPAIRS (not upgrades... hehe). That should help with the periodic maintenance a house needs - new hot water heaters, HVAC repairs, fence repairs, roof repairs, etc.

Hope this info helps you.

[burrogs]

Originally Posted by lh_newbie

$150K home w/ 10% down, 30-year @ 5.25% = about $750/month.
Taxes on $150K home = $3350/year, or $280/month.
Lawn Maint = $100-125/month
Insurance = $50-100/month - will vary quite a bit depending on who you go with, deductables, if you're in a flood plain, if you get mold insurance, etc, etc.
Utilities will vary. For example, a coworker and I have about the same size home, both built in the 70's, both single story, neither of us have a pool. Pretty much the same house on paper. Our June elec bill was $175. Theirs? $450. Why? We have a new, efficient air conditioner. Theirs is old... as in 20 years old... and we've upped our attic insulation as had about 2/3 of our old windows replaced (they were aluminum + single pane glass. Now dual pane, low-e, argon filled vinyl frames)

Don't forget about maintenance costs. I you were to budget for maintenance costs, I'd estimate you'd want to put $200/month in a special account that you only touch for REPAIRS (not upgrades... hehe). That should help with the periodic maintenance a house needs - new hot water heaters, HVAC repairs, fence repairs, roof repairs, etc.

Hope this info helps you.

Don't forget PMI. Maybe another $65/month for that.
Security $20/month

[pappy97]

Originally Posted by lh_newbie

$150K home w/ 10% down, 30-year @ 5.25% = about $750/month.
Taxes on $150K home = $3350/year, or $280/month.

Don't forget that tax amount greatly differs between a house in the Dallas county part of Richardson and the Collin County part of Richardson, i.e. it's higher in the Collin County part.

[Winter2010]

Originally Posted by lh_newbie

$150K home w/ 10% down, 30-year @ 5.25% = about $750/month.
Taxes on $150K home = $3350/year, or $280/month.
Lawn Maint = $100-125/month
Insurance = $50-100/month - will vary quite a bit depending on who you go with, deductables, if you're in a flood plain, if you get mold insurance, etc, etc.

What's PMI?

I didn't know insurance is that low, only about or less than $1,000 a year?

[Tta]

PMI = Private Mortgage Insurance
It is not insurance for you, rather it is for the lender you are borrowing from in case you default. You have to pay it if you put down less than 20%. It goes away once you are < 80% loan to value.

[Debsi]

Originally Posted by Winter2010

What's PMI?

I didn't know insurance is that low, only about or less than $1,000 a year?

I pay under $900 for insurance and my house is valued at $170K.

My taxes are around $3700.. don't forget to sign up for your homestead exemption or they'll be higher.

My lawn guy charges $30/week.