Calculating cost of living (Jacksonville, Homestead: real estate, leases, HOA fees)

[guest123456]

Hi, all!
We're thinking about moving to ST Augustine area; to be exact, one of the communities in World Golf Village area. From what I understand, those are family-friendly communities (we have a baby boy) and public schools there are among the top rated in the state.
We plan to spend around 270-275 grand on a house (this way our mortgage will be well under a thousand/month). So, that's what we have so far:
1- Mortgage <$1000
2 - Property taxes for that kind of a house - around $350, correct?
3 - we're looking for a community with HOA fees no higher than $400
4 - preferably, no CDD fees, otherwise, it's another $250/month ?
5 - Home insurance... $100/month?
6 - Home security - ???
7 - Electricity - $250?
8 -Internet/cable/phone $100
9 -Two leased cars+insurance+gas $600+$200?+???(let's say. $1000 total)
We hope to get medical insurance through our employers
Does it looks more or less realistic? Am I missing something? (I don't include food, clothes and entertainment 'cause those could vary)
Any input much appreciated.
TIA!

[Wunderkinder]

Will $1000 a month cover a house that costs between $250-$275K? Maybe if you put at least $125-$150K down on said home it will. Plus I believe your estimate of $250 a month for electricity is a little light, but not too light. Depending on which home security service you use you could spend between $35 and $70 a month. Avoid Safe Touch Security if you can, because they automatically renew their contract with you whether you want them to or not. Don't all WGV communities have CDD fees? Just my 2 cents!

[guest123456]

We're gonna sell our current home and our downpayment will be over 150 grand, so, yeah, $1000/month should cover the mortgage. I gather, Kensington has no CDD fees as well as some other communities, like Las Calinas, for example. Thank you for the tip about HSS!

[skooba]

If you're putting down $150k on a $275k house, your mortgage payment will be well under $1,000/month. You could even do a 15 year loan for under $1,000/mo.

Your numbers are pretty realistic. Home insurance would probably be $60-$100/mo depending on what company you go with.
When you are talking HOA fees at $400, are you saying annually or monthly?
If monthly, I'd say you're budgeting pretty high, especially if you are also assuming a $250/mo CDD fee. Very few places have $650/mo HOA and CDD fees. Most places you'll find a combined HOA/CDD to be around $250-300, and a lot of times less than that (obviously depending on the neighborhood).

Depending on where you work and what type of cars you drive you may have a high gas bill. If you work in downtown Jacksonville, you're looking at a 30-35 mile commute each way, so you might even go over your mileage allowance on the leases.

[guest123456]

Originally Posted by skooba

If monthly, I'd say you're budgeting pretty high, especially if you are also assuming a $250/mo CDD fee. Very few places have $650/mo HOA and CDD fees. Most places you'll find a combined HOA/CDD to be around $250-300, and a lot of times less than that (obviously depending on the neighborhood).

I didn't know that. Thank you!
I think, I'm ready to talk to a real estate agent now

[cully]

Just learned an acquaintance assumed all loans with the same backer had the same max around the country. They were depending on that in their small town area, coming from a mega city. The loan max was half what it was in their mega city. That's a point of cost of living. If you're looking at a lender, check the max loan in that area.

[Robyn55]

Originally Posted by guest123456

Hi, all!
We're thinking about moving to ST Augustine area; to be exact, one of the communities in World Golf Village area. From what I understand, those are family-friendly communities (we have a baby boy) and public schools there are among the top rated in the state.
We plan to spend around 270-275 grand on a house (this way our mortgage will be well under a thousand/month). So, that's what we have so far:
1- Mortgage <$1000
2 - Property taxes for that kind of a house - around $350, correct?
3 - we're looking for a community with HOA fees no higher than $400
4 - preferably, no CDD fees, otherwise, it's another $250/month ?
5 - Home insurance... $100/month?
6 - Home security - ???
7 - Electricity - $250?
8 -Internet/cable/phone $100
9 -Two leased cars+insurance+gas $600+$200?+???(let's say. $1000 total)
We hope to get medical insurance through our employers
Does it looks more or less realistic? Am I missing something? (I don't include food, clothes and entertainment 'cause those could vary)
Any input much appreciated.
TIA!

I think taxes may run somewhat higher than $350. Electricity too depending on the size of the house and your preferred temperature level. $100 for internet/cable/phone is low depending on what you're looking for. Landscaping can cost a lot. And you forgot water/sewer. Robyn

[guest123456]

Thank you for your reply!
From what I understand, the property taxes are based on millage rate, which is about 16 for st John's county minus $50000 Homestead Exemption...
I thought landscaping is covered by HOA fees, no? What is covered by HOA fees then? I know in some communities HOA covers lawn mowing and even cable...
How much for water/sewer?
Overall, it looks like I have to add another ~$200 to my estimate, correct?

[Wunderkinder]

I believe that the HOA community landscaping is covered by the HOA fee not your home landscaping/mowing.

[houseconfused]

Originally Posted by guest123456

Thank you for your reply!
From what I understand, the property taxes are based on millage rate, which is about 16 for st John's county minus $50000 Homestead Exemption...
I thought landscaping is covered by HOA fees, no? What is covered by HOA fees then? I know in some communities HOA covers lawn mowing and even cable...
How much for water/sewer?
Overall, it looks like I have to add another ~$200 to my estimate, correct?

Every HOA is different. Ours does not cover lawn mowing.