Buying a home, estimates of various bills?
Oct 9th, 2009 by AutoInsGuy
nep1293 asked:
I’m thinking of buying a house and I am trying to get every dollar accounted for in a given month. What are some average monthly gas, electric and water bills? Also are there any other hidden expenses that I’m not thinking of. I already have Cell Phone, Internet, Cable, Car Insurance, Gas Money, Food into my budget. Anything else i might have skipped over?
the home would be in the suburban Philadelphia, Pennsylvania area. Would probably be a single family house, probably 3 adults
Joe
Taxes. Homeowner Insurance. Alarm system if you need one. Taxes are the biggest.
Don’t forget closing costs, which average 1.5%-2% of the house value.
Good luck!
The best way to find an average for utilities for the particular house that you’re looking to buy is to call the utility companies (gas, electric, water, sewage, garbage). They can look at the usage history and give you an average. You may have to adjust the amount a little depending on the number of people who lived in house previouslly. Also, if you are buying through a realitor, they may have this information.
As far as other expenses. You will have property tax to pay. Also, you need to figure clothing and entertainment (movies, dining out, etc..).