Annual Expenses on a House?
After months of looking at coops and condos, we have found a house we love. Please help me figure out the ballpark annual expenses of a house (3 story wood frame). -Gas boiler -Water -Insurance -other expenses? I know there was a post about this in the last several months but I can’t find it….
After months of looking at coops and condos, we have found a house we love.
Please help me figure out the ballpark annual expenses of a house (3 story wood frame).
-Gas boiler
-Water
-Insurance
-other expenses?
I know there was a post about this in the last several months but I can’t find it.
Thanks very much.
With the exception of the water/sewer, count on double the above quote from Queenie.
Seriously.
And don’t forget routine maintenance/repairs to the tune of about $5,000 per year.
Seriously.
Buying a house was one of the best, most rewarding things I’ve ever done. My only regret is not moderating the new buyer delusional optimism regarding the costs of, well, everything.
Overestimate everything and be pleasantly surprised when it costs less. Underestimate and every bill is like punch to the gut.
Seriously – I’ve been reading about the price of many people’s heating bills and all I have to say is that last year, mine ran north of $5,000 for the year and that was after a new boiler was installed. My house is 3,500 sq. ft. Also, my electric is something like $175 per month (granted, I pay for the electricity for my roommate below — who loves her electric heaters and lights on all the time … got to be able to wear that T-shirt in the winter, you know). I just put in new windows on the parlor floor and insulated the roof. Still, to keep the temp between 70-72 when people are home, it costs a lot of money!
myplace – if the seller says he’s going to replace the windows, tell him to give you the $500 each and get what you want. $500 per window = crappy vinyl windows that will leak like sieves within 5 years.
Yeah… there’s a baseline “delivery” fee for gas (maintenance of the lines, etc.) It’s like $16 or something. Same with electricity. If you have an account, you will be charged.
$100 a year for cooking gas? What?
I’ve never paid less than $30 a month in any NYC apt or house for cooking gas. What’s worse, quite recently National Grid was charging us $10 or $20 a month and we didn’t even have the gas hooked up!
Myplace,
I purchased a 3-story wood frame house in Ditmas Park area in the past year. Insurance expense might vary a lot based on neighborhood and the replacement cost of the house, I found, and current owner’s ins expense may not be good indicator of yours. If house is older w/nice victorian-era detail, replacement cost will be higher. For me, gas heat/hw is approx $3600/year, ins approx $3000. Other than that, Queenie’s numbers similar to mine. Don’t forget tax, which varies widely but at least that is a public record (propertyshark or acris).
I have no idea what the brand is. There are no names on them. They are very large …about 36″ x 85″ and are all aluminum, brown, inside and out.
Depending upon size, $500 might not be good enough for quality windows.
That said, windows that don’t leak around the casings are more dependent upon installation. Google Thid Old House and see how they do it with LOTS of flashing.
Off – Topic, but you need to have a home inspection. I know folks who did not because the place was fully renovated and did not think they needed to have one.
You should call insurance companies for a quote – you will need insurance at closing.
Thanks, Slopegirl. It has recently fully renovated by the new owners so we have to start a fresh with estimating costs.