Estimating Home Ownership Costs
Let's say we're talking about a $325,000 (say 10% down), 1750 sq. ft. single family home; 5-10 years old.
My current budget includes:
Mortgage and property taxes: $1,825 / month (current rates)
Insurance: $100 /month
Maintenance: $6,500 / year
Seasonal maintenance: $500 / quarter
Utilities and gas: $320 / month
Using these numbers, it essentially looks like a money pit (which homes really are... ). Am I missing anything? Am I being too conservative? Not conservative enough?