[mrestes]

Hi everyone i am 19 yrs old and taking a big chance here but my gpa has a house lined up for me that is two bedrooms and i will have a room mate now my question is i already know i get to pay a low price of 500 per month for this house i just need to know how much everything else is going to cost including property taxes homeowner insurance water electrical gas ....etc. so you get the point i know its not gonna be easy but i need to see if it is even going to be possible the house is about 100,000 dollar house sitting on about .3 acres can anyone help me out please

[debidibly]

As for taxes, you can access the property tax records on line and plug in the home value amount (and also see what it has been in the past) to get an idea. Homeowner's insurance depends on many variables - right down to whether it's an A frame house, hip roof, total replacement value, deductible, square footage, etc. How many square feet is the home and how old is it? My average electric bill is $200 for a 2600 sq. ft home. I also keep the a/c at 75, heat at 70 and run the pool for 9 hours a day (it's a big pool) - but it's new and pretty energy efficient. You'll also have phone, cable, water, sewer, trash, etc. to deal with. Need more info to get you the answers you need.

[Mike Peterson]

A few things. In most areas of Spring Hill $100K for a 2 bedroom home is way too much.
I was showing 3 bedroom, 2 bath, pool homes over the weekend in the $120's. Very nice 2 bedroom homes can be found around $60K and even lower if you want to do some fix up yourself.

Property taxes on a home appraised at $100,000 should be around $1700 a year but if it is a homesteaded property that can be cut in about half.

Home owners insurance can be all over the board dependnent upon the age of the home.

Water and sewer should be about $60 a month if I remeber correctly.

Electric I would think $150 a month would cover it even if the home is not well insulated.
Not that many homes here have gas.

[mrestes]

i now have figured out that the house isnt that much and i will be paying 500 for renting it and i will have to additionally have to 200 all together for electric water and sewage and it has no gas so thank you for that now can anyone tell me how much it is going to cost for food and other things we wont have luxurys like phone or tv or anything but i just need hard facts for living please help me out

[debidibly]

Providing hard facts for living depends on how you want to live and what your responsibilities are. I'm guessing you possibly haven't lived on your own yet. You're willing to live without cable or phone and say you have the electric, water, and sewerage figured out. Below are the usual monthly type of expenses (no $ amounts). The amounts depend upon a number of factors - food especially, how elaborate to you plan to cook and how much do you eat out? For actual service fees you can contact providers in the area and give them the address you'll be moving to and they can usually provide you with the appropriate $ amounts. You may not have all of these type expenses.

Auto repairs
Birthdays/Holidays
Cable
Clothes
Cell Phone
Electric
Entertainment/Dinner Out
Food/Groceries
Gas - vehicle
Home repairs/Projects
Home Phone
Laundry/Cleaning
Auto Insurance
Homeowner's Insurance
Internet Service Provider
Medical/Dental/Pharmacy
Rent/Mortgage
Pool Chemicals
Real Estate Taxes
Sewer/Septic
Spending Money
Trash
Water
Pest Control
Auto Loan(s)
Credit Card Payments
School Loans
Flood Insurance

If you are moving from out of state you will also have driver's license fees to transfer to this state and auto registration fees. I think it's under $50 to change the license but the vehicle is type/weight dependent.

[mango23]

Originally Posted by debidibly

Providing hard facts for living depends on how you want to live and what your responsibilities are. I'm guessing you possibly haven't lived on your own yet. You're willing to live without cable or phone and say you have the electric, water, and sewerage figured out. Below are the usual monthly type of expenses (no $ amounts). The amounts depend upon a number of factors - food especially, how elaborate to you plan to cook and how much do you eat out? For actual service fees you can contact providers in the area and give them the address you'll be moving to and they can usually provide you with the appropriate $ amounts. You may not have all of these type expenses.

Auto repairs
Birthdays/Holidays
Cable
Clothes
Cell Phone
Electric
Entertainment/Dinner Out
Food/Groceries
Gas - vehicle
Home repairs/Projects
Home Phone
Laundry/Cleaning
Auto Insurance
Homeowner's Insurance
Internet Service Provider
Medical/Dental/Pharmacy
Rent/Mortgage
Pool Chemicals
Real Estate Taxes
Sewer/Septic
Spending Money
Trash
Water
Pest Control
Auto Loan(s)
Credit Card Payments
School Loans
Flood Insurance

If you are moving from out of state you will also have driver's license fees to transfer to this state and auto registration fees. I think it's under $50 to change the license but the vehicle is type/weight dependent.

If he is renting some of those expenses don't apply. Some he is already paying whether he moves or not. Many of those expenses you list can be cut out all together and most are within his control to keep low.

[debidibly]

Originally Posted by mango23

If he is renting some of those expenses don't apply. Some he is already paying whether he moves or not. Many of those expenses you list can be cut out all together and most are within his control to keep low.

He asked in his first post for "how much everything else is going to cost including property taxes homeowner insurance water electrical gas"

I don't know many RENTERS that are concerned with property taxes and homeowner's insurance (renters insurance maybe). It may be some kind of a deal he has with this relative who is working with him on this home.

And yes, some of these expenses may not apply and many of these expenses are within his control. My point exactly. He has to determine which ones are which and how much he wants to put towards some of those things. Maybe he's getting a job in a restaurant where he won't have to worry about meals, or he's getting a company car where they will pay for his gas and insurance. If not, then he needs to budget for it. Maybe Mom and Dad are paying it now. Part of the problem many people, young or not, have is that they don't realize where all the money goes every month and spend more than they have. Putting everything on paper, whether it's directly related to the food you eat and the roof over your head or not gives perspective. He asked what it was going to cost him to live. These are the expenses of life. At least a list of things that one should consider.

It's called looking at the big picture and establishing a budget before you go making drastic changes in life that you may not be capable of handling.

[JimmyGen]

I think this was a great list and gives any person starting out a good idea of the types of things they should budget for. Sure, some things you can do without. But that's up to the guy to determine himself. If he already lived on his own I would guess he wouldn't CONTINUE to be asking how much it was going to cost to live in Spring Hill - especially once he's already determined what it's going to cost to keep a roof over his head, water, and electricity, etc.

What renters worry about property taxes?

[Songbird42]

Does this person have a job or a job lined up......I know many 19/20 somethings that don't have jobs. If grandpa is helping that is great, but if this young man has no job waiting for him......he's in trouble. With rent and everything else he's probably looking at $1,000 a month or a little under that.

Renters don't worry about taxes or insurance unless its part of the agreement, good luck to the young man.

[mrestes]

thanks guys for all the help i dont actually have a job line up yet and plan to just have reserve money for about 2 months so i can find a job thanks again and no i dont have to pay for property tax or insurance sorry for the mis understanding