new home expenses list

All rights reserved. Many municipalities and counties If you’re accustomed to renting, you may have enjoyed a situation where some or all of your utilities were rolled into your monthly rent for you. To make sure your new home budget is on track, here are a few of the costs you should plan for in your new home.Property taxes pay for all the programs and services that make your community a great place to live. Drafting a complete house expenses list goes far beyond the basics like utility and water bills. Some ideas as to what to include in this category might be:Pets can be expensive and it’s a smart idea to consider monitoring what you spend on them to help ensure you can afford their care and upkeep.Entertainment expenses include any type of money spent on having fun.Any non-necessity expense you have for purposes of having fun will go into this category. Budgets made me envision a life of a ball and chain existence where I wasn’t allowed to have any fun or spend any money outside of basic expenses.However, after I started consistently using a budget five years ago, I found that budgets really do promote freedom, not chains.Typical monthly expenses can be broken down into several basic categories.Let’s talk about each category and what types of expenses you might assign to each one.Home expenses will include everything related to your home, including items such as:Some of these types of costs may fluctuate each month so you’ll need to keep that in mind when you create a monthly budget.One good way to prepare for larger costs such as a new furnace would be to have a special savings account where you put money aside each month that is specifically designated for large home repairs in the future.Food expenses can include any costs you spend on eating, such as:You may do things differently, but some people also add restaurant trips in this category. You might pay for recycling, yet have the opportunity to choose a more comprehensive pickup service. *With purchase of single payment plan.

It is very nifty. Looking at past property taxes for a home will give you an idea of what to expect. Some districts will allow you to pay your taxes in installments so if you would prefer that, check with the city and county to see if that option is available.Your property tax payments will go up if the value of your home increases for any reason. Let’s say you purchase a $200,000 home and put 5% down and take out a 30-year mortgage. Don’t forget to include this expense in your annual budget. HOA fees are typically charged on a monthly basis. That being said…knowing where every dollar goes is a great thing! 1. Home expenses will include everything related to your home, including items such as: Your monthly rent or mortgage payment; Utility bills such as electric, natural gas and water; Maintenance costs such as landscaping or housecleaning help, replacement light bulbs, etc. We put restaurant trips in the entertainment category unless we go purely for the reason that we need to eat and aren’t near home. Some ideas might include:In other words, if you can’t find another category that seems right for an expense, you can always add it into the “miscellaneous” category.Now that you have an idea of what types of common monthly household expenses there are, you can create a budget that works for you.You can list your income sources as “gross” (without deductions) or “net” (with deductions).

Whether you use a zero-sum budget or an alternative method, it is SO important to have a budget. Auto - Car payment - Fuel - Auto insurance - Tires and maintenance - Tag/registration. This next part is simple: subtract your total monthly expenses from your total monthly income. But, I also find that slackers have a hard time with it. If the loan manager doesn’t pay the sum on time, it can result in late fees. Review this checklist to make sure you understand the total costs before you decide on the size of home to buy. This includes roof repairs and upgrades, regular gutter cleaning, annual or monthly pest maintenance, and landscaping.