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Old 08-29-2010, 01:33 PM
 
Location: middle island
148 posts, read 475,435 times
Reputation: 43

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I am create a budget. I am looking to buy a house; something like 2000 sqf house with 3-4 bedrooms, livingroom, diningroom, den, basement.

What should I budget per month for homeowners insurance and then for all utilities (oil or gas and electric).

I just need a round about monthly number. My guessimate is 800. 150 for homeowners insurance and 650 for utilities..

What do you all think?
THANKS!
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Old 08-29-2010, 01:45 PM
 
Location: Smithtown, NY
1,726 posts, read 4,037,516 times
Reputation: 1347
I have a similiar size home (2200sf) and pay $1250 a year for insurance. Utilities are hard to measure, depends how conservative you are and what you are using. My LIPA is approximately $150 monthly. Water is not much, maybe $25 monthly. Cable, phone and internet $160.
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Old 08-29-2010, 01:46 PM
 
Location: Sound Beach
2,160 posts, read 7,516,220 times
Reputation: 897
Homeowners may largely depend on how close you are to the water...were near the Sound and I just got a new quote for $1300 a year(we currently pay $2000 a year and its way too much). So 100 to 150 sounds about right.

Electric/propane/oil or gas/cable/phone etc...$650 a month should do it. I came up with about $600 but I may be forgetting something (my house is very close to how you describe yours).

Good luck!
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Old 08-29-2010, 02:18 PM
 
Location: Long Island
9,531 posts, read 15,882,711 times
Reputation: 5949
Over the last year, mint.com which tracks all our credit cards and banks shows me our avg usage in a month for just utilities is just above $300. This does not include FIOS tv, internet, and phone which is another $120. It includes LIPA, oil (avg'd monthly after a year), and water which really doesn't amount to much. We were in a 1400sqft home which I also worked out of. Even though you are in a 2000sqft, I'd say $650/mo. for just those listed is on the high side.

Realize though in the winter you'll get $400 heating oil bills every 1-2 months while all other seasons you won't even have to account for it.

Your homeowner's insurance monthly of $150 seems accurate.
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Old 08-29-2010, 05:14 PM
 
Location: under the beautiful Carolina blue
22,668 posts, read 36,792,894 times
Reputation: 19886
Way too many variables for anyone to say. Who is your HO company (this will be included in your mortgage payment anyway) - how old is the house, what is it made of, how old are the windows, is it properly insulated, gas or oil heat, anyone home during the day, are the thermostats on timers, etc etc. Too many variables other than size alone.
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Old 08-29-2010, 05:28 PM
 
Location: Long Island
9,933 posts, read 23,152,789 times
Reputation: 5910
Without more detailed information, $800/mo sounds like a good GUESStimate and if you're lucky, it'll be a lot less... so much depends on personal lifestyle, etc., etc.
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Old 08-31-2010, 06:38 AM
 
Location: middle island
148 posts, read 475,435 times
Reputation: 43
I really appreciate everyone's feedback. I just wanted to make sure I was within the ballpark and can begin looking at houses like the one I described.

I have gathered some good information from you all, like the use on Mint.com and to take windows into consideration.

Thanks a bunch. I trust this site!

-Nichole
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