Austin area: approximate monthly spending for a young family? (Bastrop: 2013, homeowners insurance)

[ruzimon]

My family of 3 is planning on relocating to Austin from the Northeast in late spring/early summer of 2013. Treating this as a big reset button, going from 2 jobs to 1 job, cutting the mortgage by 30% and generally simplifying things.

I was wondering if the great people of Austin could help us in getting an idea of what the monthly/yearly spending could look like down there. We're trying to follow the "50% needs, 30% wants, 20% savings" system, and figuring out how much house we can buy would be determined by how much of the "50% needs" is taken up by the bills and basics like groceries and gasoline.

I know this is very open ended, but if a few people could chime in with approximations, I would greatly appreciate it. Perhaps you could add dollar figures to this list?

- natural gas
- electricity
- water
- home insurance
- internet connection (+ cable?)
- cell phones
- groceries
- gasoline
- auto insurance

I'm assuming that all other spending would either stay the same as it is now, or belongs in the "30% wants." Please add to/remove from the list as you see fit, and provide any other input. Thank you in advance!

[drshdw]

It can vary a lot. What's your income going to look like? That's going to dictate everything.

Are you looking for an apt or a house? Schools? Commute?

- natural gas (house size)
- electricity (house size)
- water (house size)
- home insurance (area + size)
- internet connection (+ cable?) $50-$200
- cell phones (dumb or smart?)
- groceries (heb, walmart, or whole foods?)
- gasoline (commute distance, car type)
- auto insurance (commute distance, age, car type)

[ruzimon]

heh, i guess those would all be important details -thank for pointing that out! here they are:

- natural gas (2000-2200 sq ft)
- electricity (2000-2200 sq ft)
- water (2000-2200 sq ft)
- home insurance (North Austin)
- internet connection (+ cable?) $50-$200
- cell phones (smart, 4G)
- groceries (HEB)
- gasoline (< 20 mi round trip commute daily)
- auto insurance (newer Civic, older Corolla)

[Trainwreck20]

We have a 14 y/o 2-story 2,400 sf house in the city of Austin (COA) proper.

- natural gas
- electricity

These are somewhat interrelated and quite a few homes have both. Starting with NG, your monthly bills will be very small, even with service fees. We have heating, cooking, and water heating running on natural gas, although notably our clothes dryer is electric. Our monthly bill averages out to around $30 or 35, I would guess, with higher in the winter (~$70) and minimal in the summer (~$15).

Electric will be driven by your AC usage. A modern efficient house (ours is pretty good) can keep it to $150 or below in the summer, and 1/3 or less in the winter. Older houses can double that if they are not upgraded to be more efficient.

- water

Highly variable, depending on lawn watering and personal habits. We are a family of 4 (2 kids under 7) and use between 3,000 and 4,000 gallons per month- until watering season, when it can jump to 18,000 gallons. The price is tiered, so the higher volumes cost correspondingly more. If you have a lawn to water, it can cost you $150 a month for 3 months or so. If you do not, you will spend a much smaller amount during those months, and much less in the winter in any case (~$40).

In the COA, the electric, water, waste water, and waste are all bundled into one bill. Ours varies from around $100 to $350 depending on the month.

- home insurance

Our home is valued around 260k and I think we pay about $1,300 per year. Don't know if it is normal or not, but that is about 0.5%.

- internet connection (+ cable?)

From minimal to a lot - your tv package, speed, etc. will drive this from very small to a large number. A very nice internet + TV package will run you from $110 -$140, I would estimate, after taxes and fees.

- cell phones

Again, all over the board. We have UVerse TV, family plan mobile phones (2), internet, and a land line for around $250/month.

- groceries

No clue on what we spend, actually, and you will be as different as you want, depending on how you eat, cook, shop.

- gasoline

Think it is around $3.40 a gal right now for regular? I have a short commute and fill up once a month or a little more, so I don't pay any attention :P. How far you drive and what kind of mileage will determine this one. Spreadsheet time .

- auto insurance

Clean record, two cars, bundled with homeowners, we pay ~$900/yr., IIRC.

[EzPeterson]

Gas, maybe $20-40 per month, depending on how efficient the house is.
Elec, budget $150 (high will be around $225 in summer)
Water will be all over the place, depending on which area. Budget $80 to $100
Insurance $400 to $800 yearly depending on age of home.
Auto about 80-130, depending on driving record, coverage and credit.
Internet and cable. 100ish
Cell phone, same as what you're paying now.
Gas probably about the same
Groceries. Similar, a few things cheaper, a few more expensive.

[sheaday]

$400-800 for homeowners insurance?? Wow what company do you use? This is actually something I've been discussing with neighbors. We pay just over $1000 a year for a 1700 sqft house. I've received a few quotes from different companies- statefarm, progressive and they come in closer to $2000! The agents say the cost have increased 30-40% due to the Bastrop, Steiner and surrounding fires.

[10scoachrick]

Originally Posted by sheaday

$400-800 for homeowners insurance?? Wow what company do you use? This is actually something I've been discussing with neighbors. We pay just over $1000 a year for a 1700 sqft house. I've received a few quotes from different companies- statefarm, progressive and they come in closer to $2000! The agents say the cost have increased 30-40% due to the Bastrop, Steiner and surrounding fires.

I'd sure be looking at an independent insurance agency. They will do the comparison shopping for you. We've been with Watkins Ins since before we moved here...switching carriers after two years to get better coverage(rates were virtually the same) and re-checking two years after that(staying with Kemper for the best combo of premiums and coverage). We bundle the cars and house for a discount. Had an auto claim last summer...smooth as silk, except we had to wait for a bumper from SWEDEN!

BTW, we're right at $1000/yr to cover the 3600 sq ft house valued at $420K(total, not structure) with full replacement cost coverage.

[EzPeterson]

Really depends on four things:
Insured Value
Property Protection Class. (Location)
Age of the dwelling
Credit/Claims history

Most of Austin is PPC 1-4. This is low risk.
Assuming 170k for rebuild value.
400-800 for a basic HO-A policy provided credit and claims are clean.

The big companies you cited are the worst, rate wise, in the state. They have 75% of the market, and have absorbed 75% of the catastrophe claims, not to mention they're still trying to pay all the 90's mold. Tons of other options exist. Call an independent agent that can shop a few carriers for you.

[mamacatnv]

Are you counting property taxes? We have found the property taxes to be double what we are used to and we came from a state with no income taxes just like here

[jdrtx]

Ruzimom, your list costs will be similar to what you are paying now. However, housing will be less, probably, depending where you want to buy, according to school districts. Hopefully you and your family of three can make it and find a good church. Our nation needs you.