Cost of owning a house

Thanks for this breakdown. It seems really doable yet my friends tell me Im too young. Should I try to have $10k set aside for furniture and moving costs? Im dtill cutting it a bit close

Yeah I've considered the possibility that I'm retarded. It seemed like a good deal because it was just built in 2017, 15 mins from a major US city, and 2.2k sq feet/ 3 bedrooms. My poorfag parents and I lived in an apartment our whole lives so I wanted to get us an actual house. I'll need more money before I feel comfortable going into real estate as a business.

It's okay dude, house specs and location seem pretty fucking good from what you're saying. But 600k for only 3 beds, it must be REALLY close to the city as you say. Plus I know that poorfag syndrome, where you live your entire life not rich and have the chance at something nice and indulge.

However, you're either a lucky brainlet or a smart guy who happened to make a mistake this one time. You could've probably gone another 5-10 minutes out from the city and gotten your parents and yourself a house with the same specs at 400k. No need to get "into the real estate as a business." You could've just held one investment property that you rent out to tenants and plan to flip in the coming years.

None the less, congratulations on your purchase and crypto gains :)

Move to NM or AZ and spend $20,000 on an off grid solar you won't have any electricity bill

It really depends on where you live, I'm assuming the USA where prices and vary wildly.

I own a house in NYC and some of the cost goes as follow:
>Electricity
About $140/month, cost me about $0.21/kWh here
>Gas
Varies from $30/month during the summer to $220ish a month during fall-winter
>Insurance
I don't have any insurance on the house because of the area I live in. It's not in a flood zone and my house is a brick home with a sprinkler system in all the rooms so I don't see the point of buying fire insurance.
>Internet
I pay $208/month for a triple play setup
>Water
It's about $300/quarter
>Property Tax
$4600/year, property tax is low here because there's an income tax. Bought my house for $680k.
>HOA
None. Don't buy a house that requires HOA because you won't feel as if you own it.

600k in the midwest (near medium city and within 2 hours from 2 large cities) could get you a 5k sq ft 5 bedroom nice house with a pool.

My point exactly. I dont get why people want to live so close to the city. Plus Midwest is the land of the based there's no comparing that to whatever shithole popular city 600k house bro is living near.

50% of the cost of the mortgage is the general assumption. A 250k house generally has about a 1k a month mortgage, $1500 to keep it afloat.

All of the things you mentioned will vary a lot by your location. Jow Forums can’t give you an answer. You’re best just avoiding buying any place with a HOA if possible. You are also forgetting maintenance when shit breaks or needs upgrading, as well as lawn maintenance if it has one. A rule of thumb to estimate maintenance, tax, and all of that is to figure up what the property would cost with a 30 year mortgage, then estimate roughly about 35-40% of what the monthly payment would be for those things.

It's a shithold midwest city and I'll probably only spend 100k if Im buying foreclosed

Buy used house.
Real estate agent said I can get a much bigger house than building new and it has that old time quality!
>she had nice tits, so I wasn't really listening as much as I should.

Been in this house 3 years:

>new roof
>new windows
>new hot water tank
>furnace repairs
>new whole house AC
>new electrical box, thank god the house wiring is (mostly) good
>two new concrete sidewalks
>lots of concrete repairs
>utility had to repair water/sewage line (they just sent a letter saying I had to pay...fuck)
>did some kitchen work (replaced sink, used appliances, but they broke and bought new)
>did some bathroom work (new toilets, new shower)
>new whole house carpeting
>new linoleum in the kitchen/bathrooms
>new shed (so I have the privilege of storing the lawnmower to cut the grass)

Seriously people do not buy a house!!!

Attached: property inspection.jpg (4032x3024, 2.26M)

>Seriously people do not buy a house!!!

or you know, use a reputable inspector

there's always going to be repairs needed but a good inspector would notice major repair needs.

>or you know, use a reputable inspector
Do you mean an inspector that generates a report? A report I just so happened to post?

yes. I hope they mentioned some items from your list in the report and you were able to negotiate repairs into the price with the seller.

no user, that was a BAD inspector

see you have to get a GOOD inspector
with eyes like a hawk, one that definitely gives a shit about you and is very much concerned with actually finding issues instead of just getting money from you
the kind of inspector that's able to, at a glance, determine which appliances are about to shit the bed, which fence posts are going to be rotted out by next Spring, and the location of every single termite larva within a ten mile radius

>determine which appliances are about to shit the bed, which fence posts are going to be rotted out by next Spring, and the location of every single termite larva within a ten mile radius

Yeah sure. Reality is most of the report is designed so they don't have any liability. So it is all, well some signs of termite infestation, but not currently active or carpet shows some signs of dry rot. Or my favorite: needs proper drainage.

by the looks of that "report" you got some rubberstamper who just wants to move on to the next

>able to negotiate repairs into the price with the seller.

Man, have you bought a house in this market? It is a sellers market. You aren't getting nothing reduced. Shit is as is.

So let me see your awesome inspection report but these great inspectors. No, because they don't exist.
They are about 25 pages of actual report and the rest is all fluff.

yes, I have and in a very competitive market too.

if the seller is considering your offer, many will not want to restart the process if your negotiations are within reason. If they had an all cash offer to buy as-is, they wouldn't be considering yours.

that being said there are some that won't budge and you have to be willing to walk away if there is just too many repairs that would need to be done.

true, all inspectors write reports in a way that limits any liability to them, but a good inspector still would note important/major things in a way that you would know they should not be ignored

Don't move into a HOA neighborhood OP. Just don't unless you want to give yourself an aneurysm.

General upkeep is a big cost for having a house as well. Depending on where you live you may need to reshingle your roof or reboard your deck every 10 years. Insurance doesn't always cover flooding and the like. Got a septic tank that needs flushed or do you poison yourself with city water? Siding even breaks down every 30 years and need stripping/replacing. Driveways sink and need to be releveled, trees grow too close to the house or lines and have to be rooted. Stuff like that.

Taxes are completely dependent on what area you live in. Your taxes in Alaska won't be shit while your taxes in IL or CA will be a nightmare.

Question- I know there are laws that prevent you from saying “no niggers here” but what should I look for and how would I ask the right questions to get the answer to ‘find me the most desireable place with no niggers in the schools’
Asking for a friend

>HOA?

Avoid any HOA home at all costs. Everything regarding your house is controlled by their rules.

>Property Tax
Cheaper than rent by a large margin.

>Internet
>Electricity
You pay them the same way you normally would for an apartment.