How much does a home cost per month?
Let's say you fully buyout a home with your own money (not borrowed from a bank or loaned, etc).
Would your monthly bill be only for like utility bills (water, gas/electric, etc)? Or are there other types of bills you would have to pay, too?
Let's say the house you bought was like $500k ---4bdr 2bath.
August 14, 2015
8 Comments • Newest first
I live in a house and my rent use to be 2k+ a month not including water, electricity, etc
It costs nothing. Nowadays, no one actually pays taxes or bills anymore.
A $500k house implying you go with the typical 20% down with insurance and all that stuff would cost you about $4800-$5400 per month including every single expense but not the emergency expenses. The property itself would cost you about $2400 monthly.
So to answer your question, you'd spend $2.5 grand every month on utilities,taxes etc..
In addition to property taxes it's pretty important to have homeowner's insurance.
If you buy the house outright you could get away without being required to have insurance (as part of the mortgage requirements), but just from the viewpoint of avoiding liability problems (like the mailman slipping on ice on your front porch), The cost would depend on the kinds of coverage and the dollar limits on them.
Pretty sure you'd have to pay property tax.
too many unanswered questions to give you a definitive answer.
it depends on your utility usage and the cost in the area? and also property tax depending on area?
It all depends where you live. In New York, for my house it's probably around $500-600, I live with 4 other people