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Old 08-11-2008, 07:55 AM
 
844 posts, read 4,167,041 times
Reputation: 707

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Hi,

My husband just got a new job and we are thinking of buying a house. I am very willing to buy a house in 3-4 months but my husband is kinda freaking out since he just started his new job in July 2008. But when he was looking for a job he got 4-5 offers in hand. In other words he is well known in his field.

We make around 85-95K and we have no debt on credit card. The only debt is the car which we pay $400-$500 a month.

We are willing to buy a house around 185-190K. Currently, we live in an apartment where the rent is $840 + electricity.

We are first time home buyers and we are young 27 and 26. What will be your advice?

We have basic expenses! no memberships, no drinking, no parties or anything!

What is the average monthly expenses we are looking at?
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Old 08-11-2008, 08:15 AM
 
1,840 posts, read 3,782,809 times
Reputation: 1483
1.2K to 1.6K for mortgage
plus utilities

First time home buyer here as well and I'm loving it.

G'luck, I don't know if just starting a new job is going to work in you guys favor but...
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Old 08-11-2008, 08:19 AM
 
49 posts, read 153,504 times
Reputation: 23
Quote:
Originally Posted by marykate1 View Post
Hi,

My husband just got a new job and we are thinking of buying a house. I am very willing to buy a house in 3-4 months but my husband is kinda freaking out since he just started his new job in July 2008. But when he was looking for a job he got 4-5 offers in hand. In other words he is well known in his field.

We make around 85-95K and we have no debt on credit card. The only debt is the car which we pay $400-$500 a month.

We are willing to buy a house around 185-190K. Currently, we live in an apartment where the rent is $840 + electricity.

We are first time home buyers and we are young 27 and 26. What will be your advice?

We have basic expenses! no memberships, no drinking, no parties or anything!

What is the average monthly expenses we are looking at?
On har.com, type in maplewood west as the subdivision name. I lived there for 10 years and loved it.
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Old 08-11-2008, 08:39 AM
 
Location: where nothin ever grows. no rain or rivers flow, TX
2,028 posts, read 7,630,969 times
Reputation: 446
sounds like a plan. goodluck. just don't over use the AC, do find a house near your work, pay cash for a used car and you'll do good here.
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Old 08-11-2008, 08:42 AM
 
844 posts, read 4,167,041 times
Reputation: 707
>>sounds like a plan. goodluck. just don't over use the AC, do find a house near your >>work, pay cash for a used car and you'll do good here.

Thanks! yeah we don't use that much of AC. My husband bought 2 fans and we use them. The house is very very very near to the park and ride which can take my husband to downtown where he works. All the stores like HEB, wallmart are also nearby. Everything is good!
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Old 08-11-2008, 09:31 AM
 
Location: Visitation between Wal-Mart & Home Depot
8,308 posts, read 35,836,686 times
Reputation: 7117
Quote:
Originally Posted by marykate1 View Post
Hi,

My husband just got a new job and we are thinking of buying a house. I am very willing to buy a house in 3-4 months but my husband is kinda freaking out since he just started his new job in July 2008. But when he was looking for a job he got 4-5 offers in hand. In other words he is well known in his field.

We make around 85-95K and we have no debt on credit card. The only debt is the car which we pay $400-$500 a month.

We are willing to buy a house around 185-190K. Currently, we live in an apartment where the rent is $840 + electricity.

We are first time home buyers and we are young 27 and 26. What will be your advice?

We have basic expenses! no memberships, no drinking, no parties or anything!

What is the average monthly expenses we are looking at?
When my wife and I bought our first house our income and expenses were about the same as yours and our house was about 200K. If you finance 100% of the house loan (which is difficult to impossible these days) count on mortgage payments of about $1100 to $1400 per month, property taxes of about $5000 per year, insurance of about $1500 to $2500 per year, a $2000 allowance for "Oh sh*t" moments, and utilities. Your utilities will be unpredictable and will vary according to the efficiency of your home and your personal habits but you can expect them to be considerably more than what you pay at the apartment. I bought an older home that did not fall very far into the "efficient" category. My first July electric bill was $400. I panicked. Then I realized that since my A/C would remain off for most of December through most of April and no hands would ever touch the heater we would be making up a lot of ground.
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Old 08-11-2008, 10:04 AM
 
844 posts, read 4,167,041 times
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Which energy company do you recommend. Currently, in our apartment we are using GEXA energy.
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Old 08-11-2008, 10:18 AM
 
Location: where nothin ever grows. no rain or rivers flow, TX
2,028 posts, read 7,630,969 times
Reputation: 446
firsttime homebuyer transplant scared $h!t1e$$ of TX electricity costs ....



new 2 story 2600sqft house at 76-80degrees when home(only)

we can't really find anything interesting to do in Houston so we do save even more there. we do eat out often. I also spend a lot more on tools/building materials/stuff
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Old 08-11-2008, 10:22 AM
 
844 posts, read 4,167,041 times
Reputation: 707
Spark Energy!! Hmm never heard of that one.

Your monthly bill is very low. This is pretty much what I pay for an apartment. What is the status of your home. I mean 1 story or 2 story and also how many sq feet area?

Also do you even turn on your AC?? What is the constant temp you keep like 78 F or 75F etc.
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Old 08-11-2008, 10:25 AM
 
Location: Southeast Texas
564 posts, read 1,889,201 times
Reputation: 199
Wizzy is right about the electricity. One thing that's definitely in the favor of the older homes in Houston (proper) subdivisions such as those in Maplewood is that the trees are a lot more mature than many in the newer suburban communities, and they do a better job of keeping the house cooler during the day (when you're at work) so that you don't need to run your AC at as low a temperature or for as long.
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